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I cant figure out what im missing here :( keeps saying its incomplete. Fitz Company reports the following information. Selected Annual Income Statement Data Selected
I cant figure out what im missing here :( keeps saying its incomplete.
Fitz Company reports the following information. Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net income Depreciation expense Amortization expense Gain on sale of plant assets $374,000 Accounts receivable decrease Inventory decrease Prepaid expenses increase Accounts payable decrease Salaries payable increase $17,100 42,000 4,700 8,200 1,200 44,000 7,200 6,000 Use the indirect method to prepare 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.) O Answer is not complete. Statement of Cash Flows (partial) Cash flows from operating activities 374,000 Net income Adjustments to reconcile net income to net cash provided by operating activities 7,200 Amortization expense 44,000 Depreciation expense (6,000) Gain on sale of plant assets 42,000 Decrease in inventory 17,100 Decrease in accounts receivable (4,700) Increase in prepaid expenses (8,200) Decrease in accounts payable 1,200 Increase in salaries payable 466,600 Step by Step Solution
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