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Adjustments to Net IncomeIndirect Method Kingston Corporation's accumulated depreciationequipment account increased by $4,300, while $2,800...

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Accounting

Adjustments to Net IncomeIndirect Method Kingston Corporation's accumulated depreciationequipment account increased by $4,300, while $2,800 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 $3,300 from the sale of investments. Reconcile a net income of $48,700 to net cash flows from operating activities.

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