Essay
BlueInk Corporation's accumulated depreciation increased by $14,000, while patents decreased by $3,875 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 loss on sale of land of $1,950.Accounts receivable increased $6,320, inventory decreased $3,125, prepaid expenses decreased $720, and account payable increased $2,760.Reconcile a net income of $55,000 to net cash flow from operating activities.
Correct Answer:
Verified
Correct Answer:
Verified
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