Question
Hampton Industries had $37,000 in cash at year-end 2018 and $17,000 in cash at year-end 2019. The firm invested in property, plant, and equipment totaling
Hampton Industries had $37,000 in cash at year-end 2018 and $17,000 in cash at year-end 2019. The firm invested in property, plant, and equipment totaling $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 +$150,000. 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 $10,000, receivables and inventories increased by $180,000, and depreciation and amortization totaled $59,000, what was the firm's net income?
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