7 and 8

Electronics World Inc. paid out $32.8 million in total common dividends and reported $237.5 million of retained earnings at yearend. The prior year's retained earnings were $154.4 million. What was the net income? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. Hampton Industries had $75,000 in cash at year-end 2018 and $17,000 in cash at year-end 2019 . The firm invested in property, plant, and equipment totaling $220,000 - the majority having a useful life greater than 20 years and falling under the alternative depreciation system. Cash flow from financing activities totaled +$190,000. Round your answers to the nearest dollar, if necessary. a. What was the cash flow from operating activities? Cash outflow, if any, should be indicated by a minus sign. $ b. If accruals increased by $25,000, receivables and inventories increased by $155,000, and depreciation and amortization totaled $45,000, what was the firm's net income? $