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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

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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 year ended December 31. (Amounts to be deducted should be indicated with a minus sign.) Selected Annual Income Statement Data Net income Depreciation expense Amortization expense Gain on sale of plant assets 6, 680 Accounts payable decrease Selected Year-End Balance Sheet Data $412, Accounts receivable decrease $25, 980 49,500 5, 500 9,900 1,900 47,280 Inventory decrease ,700 Prepaid expenses increase salaries payable increase Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities

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