Adjustments to Net Income-Indirect Method Kingston Corporation's accumulated depreciation-equipment account increased by $8,600, while $5,600 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 $6,500 from the sale of investments. K Reconcile a net income of $97,700 to net cash flows from operating activities. C

Adjustments to Net Income-Indirect Method Kingston Corporation's accumulated depreciation-equipment account increased by $8,600, while $5,600 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of deprociable or intangible assets during the year. In addition, the income statement showed a loss of 36,500 from the sale of investrments: Reconcle a net income of $97,700 to net cash flows from operating activities