Adjustments to net income$-$indirect method

Ripley Corporation's accumulated depreciation$-$equipment account increased by $$17,430$ while $$3,500$ 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 gain of $$22,020$ from the sale of investments. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below.

Open spreadsheet

Reconcile a net income of $$306,400$ to net cash flows from operating activities.