Kingston Corporation's accumulated depreciation—equipment account increased by $6,600, while $4,300 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 $5,000 from the sale of investments. Reconcile a net income of $75,100 to net cash flows from operating activities. $fill in the blank 1

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
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Kingston Corporation's accumulated depreciation—equipment account increased by $6,600, while $4,300 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 $5,000 from the sale of investments.

Reconcile a net income of $75,100 to net cash flows from operating activities.
$fill in the blank 1

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