Nollaney Corp. had $49,000 in cash at the end of 2019 and $72,000 at the end of 2020. The firm invested a total of $291,000 in property, plant, and equipment. Total cash flow from financing activities was +$270,000.

Attempt 1/3 for 10 pts.

Part 1

What was the cash flow from operating activities? (Use negative number for cash outflows or decrease in cash)

Submit

Attempt 1/3 for 10 pts.

Part 2

If accounts receivable and inventories increased by $85,000 (in total) during 2020, accounts payable increased by $14,000 during 2020, and the amount of depreciation was $72,000 during 2020, what was the firm's net income?