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Adjustments to net income-indirect method Lighthouse Corporation's accumulated depreciation-equipment account increased by $19,735 while $3,600 of patent amortization was recognized between balance sheet dates. There
Adjustments to net income-indirect method Lighthouse Corporation's accumulated depreciation-equipment account increased by $19,735 while $3,600 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 gain of $21,780 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 $295,900 to net cash flow from operating activities. Round your answer to the nearest dollar S B12 V X fx A B C 1 Adjustments to net Income - indirect method 2 3 DATA 4 Depreciation $19,735 5 Amortization of patents $3,600 6 Gain from sale of investments $21,780 7 Net income $295,900 8 Using formulas and cell references, perform the required analysis, and input your answer into the Amount column. Transfer the numeric result for the green entry cell (B12) into the appropriate field in CNOWV2 for grading. 11 Amount Formula 12 Net cash flow from operating activities 90223 10 13 14 15 16 17 18 19
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