Indirect Method Preparing the Operating Activities Section Pitt Corp. reported net income of $360,000 for the year ended December 31. Depreciation expense was $38,400 and was reported as part of operating expenses in the income statement. Following are changes in account balances from last year to the current year. Description Amount Decrease in accounts receivable $16,800 Increase in accounts payable 6,400 Decrease in inventories 60,000 Increase in salaries payable 35,200 Increase in prepaid insurance 9,600 Prepare the current year's operating activities section of the statement of cash flows for Pitt Company using the indirect method. Cash Flows from Operating Activities Net Income Adjustments: $ 0 Depreciation expense 0 Decrease in accounts receivable 0 Decrease in inventories 0 Increase in prepaid insurance 0 Increase in accounts payable 0 Increase in salaries payable Net cash provided by operating activities $ Check 0 0