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Fitz Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the
Fitz Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31, 2016. (Amounts to be deducted should be indicated with a minus sign.) Selected 2016 Income Statement Data Selected Year-End 2016 Balance Sheet Data Net income $ 382,000 Accounts receivable decrease $127,200 Depreciation expense 45,800 Inventory decrease 46,000 Amortization expense 8,700 Prepaid expenses increase 5.100 Gain on sale of plant assets 7,100 Accounts payable decrease 10.500 Salaries payable increase 1,700 Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities
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