The accounting records of EZ Company provided the data below. Net income Depreciation expense Increase in inventory $50,950 7,450 1,725 Decrease in salaries payable 985 Decrease in accounts receivable 2,300 Amortization of patent 535 Amortization of premium on bonds 1,395 Increase in accounts payable Cash dividends paid. 4,450 12,500 Prepare a reconciliation of net income to net cash flows from operating activities. (Amounts to be deducted should be indicated with a minus sign.) Answer is not complete. RECONCILIATION OF NET INCOME TO NET CASH FLOWS FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOWS FROM OPERATING ACTIVITIES Cash flows from operating activities: Net income $ 50,950 Adjustments for noncash effects: Depreciation expense 7,450 Amortization of patent 535 Decrease in bond premium (1,395) Changes in operating assets and liabilities: Decrease in salaries payable (985) Increase in inventory (1,725) Decrease in accounts receivable Increase in accounts payable 2,300 4,450 Net cash flows from operating activities $ 61,580