Exercise 12-5 Indirect: Cash flows from operating activities LO P2 Fitz Company reports the following information Selected Annual Income Statement Data Selected Year-End Balance Sheet Data Net Income $388,000 Accounts receivable decrease $66,300 Depreciation expense 47,600 Inventory decrease 52,000 Amortization expense 7,380 Prepaid expenses increase 5,100 Gain on sale of plant assets 7,700 Accounts payable decrease Salaries payable Increase 2,300 9,400 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.) 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.) Statement of Cash Flows (partial) Cash flows from operating activities Adjustments to reconcile not income to net cash provided by operating activities