Gates Corporation's accumulated depreciation-equipment increased by $8,000, while patents decreased by $5,200 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 $6,000 from the sale of investments. Reconcile a net income of $90,000 to net cash flow from operating activities.
What is the net cash flow from operating activities?
Cash Flow from Operating Activities:
Net Income $90,000
Add: Depreciation $8,000
Add: Loss on Sale of Equipment $6,000
Add: Amortization of Intangible Assets $5,200
Net cash ...
Gates Corporation's accumulated depreciation are discussed.