indirect method— preparing the operating activities section pitt corp. reported net income of $450,000 for the current year ended december 31. depreciation expense was $48,000 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 increase in accounts receivable $21,000 increase in accounts payable 8,000 increase in inventories 75,000 decrease in salaries payable 44,000 decrease in prepaid insurance 12,000 prepare the current year's operating activities section of the statement of cash flows for pitt company using the indirect method.