Adjustments to Net Income-Indirect Method
Lighthouse Corporation's accumulated depreciation-equipment account increased by $6,000, while $3,900 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 $4,600 from the sale of land.
Reconcile a net income of $68,600 to net cash flow from operating activities.