Indirect Method - Preparing the Operating Activities Section Pitt Corp. reported net income of $810,000 for the year ended December 31, 2020. Depreciation expense was $86,400 and was reported as part of operating expenses in the income statement. Following are changes in account balances from December 31, 2019, to December 31, 2020. Description Amount Decrease in accounts receivable $37,800 Increase in accounts payable 14,400 Decrease in inventories 135,000 Increase in salaries payable 79,200 Increase in prepaid insurance 21,600 Prepare the operating activities section of the statement of cash flows for Pitt Company using the indirect method. Cash Flows from Operating Activities Net Income $ 810,000 Adjustments: Depreciation expense 86,400 Decrease in accounts receivable 37,800 Decrease in inventories 135,000 Increase in prepaid insurance 21,600 x Increase in accounts payable 14,400 Increase in salaries payable 79,200 Net cash provided by operating activities $ X