answer the two questions

CengageNOWv2 | Online to x My Home X C Merrick Equipment Co. Sta X f Messenger | Facebook + X v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&in... * ABP G 1)) # New Tab Get to Chrome faster Completed @ Course Home Picaboo Yearbook in Messaging X Converting your file Khan Academy | Fre. eBook Show Me How Calculator Print Item Adjustments to Net Income-Indirect Method Lighthouse Corporation's accumulated depreciation-equipment account increased by $9,700, while $6,300 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 $7,400 from the sale of land. Reconcile a net income of $109,800 to net cash flow from operating activities. $ 133,200 X Feedback Check My Work Consider how each of the above mentioned items would have affected the income statement. What journal entry would have been made to record these transactions? Do these items have an affect on cash? Would any of these transactions appear in a different portion of the statement of cash flows?ow.com/lirn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&in... ABP G ") ) Get to Chrome faster Completed B Course Home Picaboo Yearbook in Messaging Converting your file Khan Academy | Fre. eBook Show Me How Calculator Print Item Changes in Current Operating Assets and Liabilities-Indirect Method Covington Corporation's comparative balance sheet for current assets and liabilities was as follows: Dec. 31, Year 2 Dec. 31, Year 1 Accounts receivable $15,800 $13,900 Inventory 67,800 77,900 Accounts payable 21,800 18,500 Dividends payable 25,000 27,000 Adjust net income of $121,800 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. $ 122,100 X Feedback Check My Work Once you have calculated the changes in the current operating assets and liabilities determine what impact those changes would have on cash. For example if accounts receivable has increased from last year to this year does that mean the company has collected more cash or less cash? If accounts payable has decreased does that mean the company has more cash or less cash? v2 | Onl. Spotify Free