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Business
Accounting
Omni Corporation's accumulated depreciation—equipment account increased by $4,400 while $2,800 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 $3,300 from the sale of investments. Reconcile a net income of $49,700 to net cash flows from operating activities.fill in the blank 1 of 1$

Omni Corporation's accumulated depreciation—equipment account increased by $4,400 while $2,800 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 $3,300 from the sale of investments. Reconcile a net income of $49,700 to net cash flows from operating activities.fill in the blank 1 of 1$

FINANCIAL ACCOUNTING
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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Omni Corporation's accumulated depreciation—equipment account increased by $4,400 while $2,800 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 $3,300 from the sale of investments.

Reconcile a net income of $49,700 to net cash flows from operating activities.
fill in the blank 1 of 1$

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