Statement of cash flows Williams Cycling Company had S55,000 in cash on the balance sheet at the end of 2001. At vear-end 2002, the company had S25,000 in cash. We know cash flow from long-term investing activities totaled -$250,000 and cash flow from financing activities totaled $170,000.

a. What was the firm's cash flow from operating activities?

b. If the firm's accruals increased by $25,000, receivables and inventories increased by

$100,000, and the firm's depreciation and amortization expense totaled $10,000, what was the firm's net income for the year? Assume that the firm has no preferred stock.