Gaston Corporation's accumulated depreciation increased by $10,000, while patents decreased by $3,200 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 $3,500 from sale of land. Reconcile a net income of $45,000 to net cash flow from operating activities.

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The Answer of Gaston Corporation's accumulated depreciation increased by $10,000, while patents decreased by $3,200 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 $3,500 from sale of land. Reconcile a net income of $45,000 to net cash flow from operating activities.

Gaston Corporation's Accumulated Depreciation Increased by $10,000, While Patents Decreased