1. Craft Co. had the following activity during 2020:

Net Income $50,000

Cash Receipts from customers $1,750,000

Cash Payments to suppliers $1,050,000

Depreciation Expense $35,000

Cash Payments for operations $640,000

What was the cash flow from operating activities?

a) $ 25,000

b) $ 50,000

c) $ 60,000

d) $ 95,000

2. Concierge Co. had the following activity during 2020:

Payment of long-term note payable $375,000

Interest paid on debt 67,200

Proceeds from sale of common shares 500,000

Dividends received on investments 15,000

What was the cash flow from financing activities?

a) $57,800

b) $72,800

c) $125,000

d) $140,000