Adjustments to Net IncomeIndirect Method Lighthouse Corporation's accumulated depreciationequipment account increased by $10,300, while $6,600...
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Accounting
Adjustments to Net IncomeIndirect Method
Lighthouse Corporation's accumulated depreciationequipment account increased by $10,300, while $6,600 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 $7,800 from the sale of land.
Reconcile a net income of $116,500 to net cash flow from operating activities. $fill in the blank 1
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