Exercise $16-5($Algo$)$ Indirect: Cash flows from operating activities LO P$2$

Fitz Company reports the following information.

$\backslash$table$[[$Selected Annual Income Statement Data,Selected Year$-$End Balance Sheet Data,,$],[$Net income,$$418,000,$Accounts receivable decrease,$44,400],[$Depreciation expense,$49,200,$Inventory decrease,$6,200],[$Amortization expense,$8,700,$Prepaid expenses increase,$9,300],[$Gain on sale of plant assets,$7,300$ Accounts payable decrease,$1,400,]]$

Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended Decembe Note: Amounts to be deducted should be indicated with a minus sign.

$\backslash$table$[[$Statement of Cash Flows $($partial$),],[$Cash flows from operating activities,$],[$Net income,$],[$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,$],[,],[,],[,],[,]]$