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Adjustments to Net IncomeIndirect Method Eastlund Corporation's accumulated depreciationequipment account increased by $6,320, while $2,450...

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Accounting

Adjustments to Net IncomeIndirect Method

Eastlund Corporation's accumulated depreciationequipment account increased by $6,320, while $2,450 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a gain of $13,510 from the sale of investments.

Reconcile a net income of $126,300 to net cash flows from operating activities.

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