pt 1

pt 2

Adjustments to Net Income-Indirect Method Kingston Corporation's accumulated depreciation-equipment account increased by $8,100 while $5,200 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 $6,200 from the sale of investments. Reconcile a net income of $92,100 to net cash flow from operating activities. x Changes in Current Operating Assets and Liabilities-Indirect Method Blue Circle Corporation's comparative balance sheet for current assets and liabilities was as follows: Adjust net income of $84,000 for changes in operating assets and liabilities to arrive at net cash flow from operating activities. X