Net income adjustment shown on the statement of cash flows

Lawrence Products had a beginning balance in Furniture and Fixtures, net of depreciation, of $192,000. The ending balance in that account was $196,500. Depreciation expense for that period was $25,000, and there were no sales of furniture or fixtures during the period.

What was the amount of furniture and fixtures purchases?

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During 2010, Allen Company recorded interest expense on bonds payable of $18,500 and decreased the premium on bonds payable by $200. If net income was $44,600 during 2010, what is Allen’s net income adjustment shown on the statement of cash flows?

During 2010, Chen Company generated a $65,000 net income. Using this information, determine the adjusted net income:

A. Equipment was sold during the period at a loss of $5,000.

B. Trading securities (not cash equivalents) were sold during the period at a gain of $2,400.

C. Patent amortization expense was $1,800 for the period.

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