Answered
Samuel Company's accumulated depreciation-equipment account increased by $6,000, while patents decreased by $2,200 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 $3,200 from the sale of investments. Assume no changes in noncash current assets and liabilities.Samuel Company reported a net income of $92,000. Determine net cash flow from operating activities using the indirect method.
On Jun 13, 2024