Help Save & ExitSubmit omework Check my work g activities section of its Fitz Co

Question

Help Save & ExitSubmit omework Check my work g activities section of its Fitz Company reports the folowing information. Use the indirect method' to prepare only the operatin statement of cash flows for the year ended December 31, 2017. (Amounts to be deducted should be indicated with a minus sign.) Depreciation expense 47,400 Ieventory decrease B,400 Prepaid expenses inerease 7,100 Acoounta payable decr Gain on sale of plant assets Salaries payable increase 1,600 Cash flows from operating activites o reconcile net income to net cash provided by operating activities

Explanation / Answer

Cash flow from operating activities ;

Cash flow from operating activities Net income 394000 Adjustment to reconcile net income Depreciation expenses 47400 Amortization expenses 8400 Gain on sale of plant assets (7100) Account receivable increase 105500 inventory increase 48500 prepaid expenses increase (6900) Accoutn payable decrease (9800) Salaries payable increase 1600 Net cash flow from operating activities 581600

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