Question
Durrand Corporation's accumulated depreciation increased by $10,075, while patents decreased by $3,696 between consecutive balance sheet dates. There were no purchases or sales of
Durrand Corporation's accumulated depreciation increased by $10,075, while patents decreased by $3,696 between consecutive 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 $3,160 from sale of land. The company earned a net income of $53,572. Determine net cash flow from operating activities under the indirect method.
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
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