Exercise 12-5 Indirect: Cash flows from operating activities LO P2 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.) elected Net income Depreciation expense Amortization expense Gain on sale of plant assets7,700 Accounts payable decrease atement Data Selected Year-End Balance Sheet Data $415,000 Accounts zeceivable decrease $166,100 Cp49,000 44,800Inventory decrease 8,300 Prepaid expenses increase 5, 000 9, 600 2,500 Salaries payable increase Cash lows 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