Question
Hampton Industries had $36,000 in cash at year-end 2020 and $27,000 in cash at year-end 2021. The firm invested in property, plant, and equipment totaling
Hampton Industries had $36,000 in cash at year-end 2020 and $27,000 in cash at year-end 2021. The firm invested in property, plant, and equipment totaling $250,000 the majority having a useful life greater than 20 years and falling under the alternative depreciation system. Cash flow from financing activities totaled +$220,000. Round your answers to the nearest dollar, if necessary. What was the cash flow from operating activities? Cash outflow, if any, should be indicated by a minus sign. $ If accruals increased by $30,000, receivables and inventories increased by $155,000, and depreciation and amortization totaled $61,000, what was the firm's net income? $
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