Adjustments to Net Income Indirect Method Omni Corporation's accumulated depreciationequipment account increased by $3,800, while $2,500 of
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Adjustments to Net IncomeIndirect Method
Omni Corporation's accumulated depreciationequipment account increased by $3,800, while $2,500 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 $2,900 from the sale of land.
Reconcile a net income of $43,200 to netcash flow from operating activities.
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