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Congress Corporation's accumulated depreciationequipment account increased by $7,300, while $4,700 of patent amortization was recognized between balance sheet dates. There were no purchases or sales
Congress Corporation's accumulated depreciationequipment account increased by $7,300, while $4,700 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 $5,500 from the sale of land. Reconcile a net income of $82,400 to net cash flow from operating activities.
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