A company has two intangible assets, Patent and Goodwill. In 2022 the amortization of the Patent was $30,000. Goodwill was not amortized in 2022, but impairment was recognized for $50,000. The company uses the indirect method for operating activities in the EFE. What adjustment is made to Net Income in 2022? a. Subtract $80,000 b. Add $80,000 c. Add $30,000 d. Add $20,000

A company has two intangible assets, Patent and Goodwill. In 2022 the amortization of the Patent was $30,000. Goodwill was not amortized in 2022, but impairment was recognized for $50,000. The company uses the indirect method for operating activities in the EFE. What adjustment is made to Net income in 2022? a. Subtract $80,000 b. Add $80,000 c. Add $30,000 d. Add $20,000