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Exercise 16-5(Algo) Indirect: Cash flows from operating activities LO P2SFitz Company reports the following information.Selected...

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Accounting

Exercise 16-5(Algo) Indirect: Cash flows from operating activities LO P2SFitz Company reports the following information.Selected Annual Income Statement DataNet incomeDepreciation expenseAmortization expenseGain on sale of plant assetsSelected Year-End Balance Sheet Data$ 376,000Accounts receivable decrease44,200 Inventory decrease7,300 Prepaid expenses increase6,100 Accounts payable decreaseSalaries payable increase$ 122,40042,5005,8008,8002,400Use the indirect method to prepare the operating activities section of its statement of cash flows for the year ended

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