Fitz Company reports the following information. Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended December 31. Selected Annual Income Statement Data Net income Depreciation expense Amortization expense Gain on sale of plant assets $374,000 44,000 7,200 6,000 Selected Year-End Balance Sheet Data Accounts receivable decrease Inventory decrease Prepaid expenses increase Accounts payable decrease Salaries payable increase $17,100 42,000 4,700 8,200 1,200

Fitz Company reports the following information. Use the indiret method to prepare the operating activities section of its statement of cash flows for the year ended December 31 . Exercise 12-5 Indirect: Cash flows from operating activities P2 Fitz Company reports the following information. Use the indinct method to prepare the operating activities section of its statement of cash flows for the sear ended December 31