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10. The Prepaid Insurance (current asset) account created from the purchase of a 5-year liability insurance policy had a balance of $50,000 and $35,000 at

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10. The Prepaid Insurance (current asset) account created from the purchase of a 5-year liability insurance policy had a balance of $50,000 and $35,000 at the beginning and end of the year, respectively. Net Income reported on the income statement for the year was $130,000. Depreciation expense for the year was $40,000, and equipment (asset) was disposed of for $10,000 with an $8,000 loss incurred on the disposal transaction. Calculate the cash flow from operating activities to be reported on the statement of cash flows. 11. On Tomatillo, Inc.'s comparative balance sheets for the years 2018-2019, the retained earnings account increased $34,000 for net income earned less dividends declared during the accounting period. The common stock account increased $ 12,000 and the paid in capital: excess of issue price over par-common stock account increased $ 100,000 for shares of common stock issued for cash. The dividends payable account decreased $28,000 because cash dividends were paid during the accounting period. Calculate Tomatillo's cash flow from financing activities for 2019

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