9) In the period 2011, Lott Inc. performed services for $120,000 and billed its

customers. The company subsequently collected $82,000 of the amount billed. Lott incurred $75,000 of operating expenses but paid cash for only $62,000 of that amount. Lott acquired $30,000 cash from the issue of common stock. The company invested $18,000 cash in the purchase of land. What is the amount of cash flow from revenue that will appear on the statement of cash flows?

$45,000.

$120,000.

$38,000.

$82,000.

11)In the period 2011, Lott Inc. performed services for $120,000 and billed its

customers. The company subsequently collected $82,000 of the amount billed. Lott incurred $75,000 of operating expenses but paid cash for only $62,000 of that amount. Lott acquired $30,000 cash from the issue of common stock. The company invested $18,000 cash in the purchase of land. What is the net cash flow from operating activities for the period?

$20,000

$ 7,000

$ 2,000

$11,000