Business Finance Homework Help

Jonathan Corporation’s accumulated depreciation increased by $12,000, while patents decreased by $2,200 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 $4,300 from sale of land. Prepare a reconciliation of net income of $75,000 to net cash flow from operating activities under the indirect method. Show all work.