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In preparation for completing the statement of cash flows using the spreadsheet method, Williams Company provided the following information relating to patents for 2016: Company

In preparation for completing the statement of cash flows using the spreadsheet method, Williams Company provided the following information relating to patents for 2016:

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Company provided the following information relating to patents for 2016: Balance, 1/1/2016 $4,800 Purchase of 10-year life patent for cash 2,000 Sale of patent at book value (1,400) Amortization of patents (290) Balance, 12/31/2016 $5,110

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