Karr, Inc. reported net income of ($300,000) for 2008. Changes occurred in several balance sheet accounts as

Question:

Karr, Inc. reported net income of $$300,000$ for 2008. Changes occurred in several balance sheet accounts as follows:

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Additional Information:
1. During 2008, Karr sold equipment that cost $$25,000$ and had accumulated depreciation of $$12,000$, for a gain of $$5,000$.
2. In December 2008, Karr purchased equipment costing $$50,000$ with $$20,000$ cash and a 12% note payable of $$30,000$.
3. Depreciation expense for the year was $$52,000$.
Required:
1. In Kart’s 2008 statement of cash flows, what should be the net cash from operating activities?
2. In Karr’s 2008 statement of cash flows, what should be the net cash used in investing activities?