Durrand Corporation's accumulated depreciation increased by $13,721, while patents decreased by $3,862 between consecutive balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a gain of $3,766 from sale of land. The company earned a net income of $45,945. Assuming there were no changes in noncash current assets and liabilities, determine the net cash flows from operating activities under the indirect method.

Durrand Corporation's accumulated depreciation increased by $13,721, while patents decreased by $3,862 between consecutive balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a gain of $3,766 from sale of land. The company earned a net income of $45,945. Assuming there were no changes in noncash current assets and liabilities, determine the net cash flows from operating activities under the indirect method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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