Adjustments to Net Income—Indirect Method
Omni Corporation's accumulated depreciation—equipment account
increased by $7,400, while $4,800 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 loss of $5,700 from the
sale of land.
Reconcile a net income of $84,600 to net cash flow from
operating activities.
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