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 Inc $400,000 Accounts receivable decrease $167,800 Depreciation expense 49,000 Inventory decrease 42,500 Amortization expense 3,000 Prepaid expenses increase 5,400 Gain on sale of plant assets 6, 200 Accounts payable decrease 10,000 Salarios payable increase 1,800 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.) Salaries payable increase 1,800 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 Floral Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities