Fitz Company reports the following information. Selected Annual Income Statement Data Selected Year-End Balance Sheet Data
Net income $394,000 Accounts receivable decrease $20,900
Depreciation expense 47,600 Inventory decrease 47,000
Amortization expense 8,100 Prepaid expenses increase 5,400
Gain on sale of plant assets 7,300 Accounts payable decrease 10,600
Salaries payable increase 1,400

Required:
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.)

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan