Adjustments to Ner Iocome-indirect Method Ughthouse Corperanion's accumulated depreciation-equipenten account increased by $3,800, while $2,500 of pasenc amortization was recognized between balance sheet: dates. There nere no purchases or sales of depreciabie or intangble assets during the year, In addition, the income statement showed a loss of $2,900 from the sale of itvestments. Reconcle a net inteme of 543,500 to net cash fows from operating activitiek. 1 x Consider how each of the above mentioned items wyuld hove Mected the inceme statement. What journal entry would have been made to record these transactions? Do these aems have an affect on carsh Would any of these tracsactions appear in a diferent portion of the statement of cash flows? Adfustments to Net income-1ndirect Method Ugithouse Corporation's accamulated depreciation-equpment account increased by 33,000 , while s2, spo of patent amortization was recegnised between balance sheet sates. There wern no purchases of sales of depreclable of intangible assets durimp the veac in addrion, the inceme vatement showed a loss of s2,900 trom the sale of evestrients. x Toles by Mos