saved 12 Exercise 12-5 Indirect: Cash flows from operating activities LO P2 Save 3 exit Submit 1.07 points Check my world Fitz Company reports the following information. eBook Selected Annual Income Statement Data Net income $418,000 Depreciation expense 50,000 Amortization expense 8,300 Gain on sale of plant assets 7,700 Hint Selected Year-End Balance Sheet Data Accounts receivable decrease $145,000 Inventory decrease 47,880 Prepaid expenses increase 6,689 Accounts payable decrease 10,290 Salaries payable increase 2,400 Print rences 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 net income to net cash provided by operating activities Use the indirect method to prepare the operating activities section of its statement of cash flow 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 net income to net cash provided by operating activities