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Omni Corporation's accumulated depreciationequipment account increased by $4,300 while $2,800 of patent amortization was recognized between balance sheet dates. There were no purchases or sales
Omni Corporation's accumulated depreciationequipment account increased by $4,300 while $2,800 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 $3,300 from the sale of investments. Reconcile a net income of $48,700 to net cash flows from operating activities.
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