Adjustments to Net IncomeIndirect Method

Congress Corporation's accumulated depreciationequipment account increased by $4,800 while $3,100 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 $3,700 from the sale of investments.

Reconcile a net income of $54,600 to net cash flow from operating activities.

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