Problem 3-10 Statement of Cash Flows

W.C. Cycling had $53,000 of cash at year-end 2011 and $12,000 in cash at year-end 2012. The firm invested in property, plant, and equipment totaling $300,000. Cash flow from financing activities totaled +$200,000. Round your answers to the nearest dollar, if necessary.

1. What was the cash flow from operating activities?
3. Answer: $___________

If accruals increased by $35,000, receivables and inventories increased by $125,000, and depreciation and amortization totaled $23,000, what was the firm's net income?

Answer: $___________