Exercise 12-5 Indirect: Cash flows from operating activities LO P2 Fitz Company reports the following information. Use the indirect methodto prepare only the operating activities section of its statement of cash flows for the year ended December 31, 2017. (Amounts to be deducted should be indicated with a minus sign.) Selected 2017 Income Statement Data Selected Year-End 2017 Balance Sheet Data Accounts receivable $391,000 decrease $163,400 Net income Depreciation expense Amortization expense Gain on sale of plant 46,400 Inventory decrease 42,000 7,500 Prepaid expenses increase 6,700 Accounts payable decrease Salaries payable increase 5, 600 8,000 1,200 ssets Cash flows from operating activities Net income $ 391,000 Adjustments to reconcile net income to net cash provided by operating activities $ 391,000