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Congress Corporation's accumulated depreciation—equipment account increased by $4,700, while $3,000 of patent amortization was recognized between balance sheet dates. There were no purchases or sales

Congress Corporation's accumulated depreciation—equipment account increased by $4,700, while $3,000 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 $3,600 from the sale of land.

Reconcile a net income of $53,200 to net cash flow from operating activities.

 

Sep 22 2020 Read more Less More

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