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STATEMENT OF CASH FLOWS W.C. Cycling had $60,000 in cash at year-end 2013 and $35,000 in cash at year-end 2014. The firm invested in property,
STATEMENT OF CASH FLOWS W.C. Cycling had $60,000 in cash at year-end 2013 and $35,000 in cash at year-end 2014. The firm invested in property, plant, and equipment totaling $255,000. Cash flow from financing activities totaled +$190,000.
If cash flows from operations totaled $40,000, accruals increased by $30,000, receivables and inventories increased by $110,000, and depreciation and amortization totaled $15,000, what was the firm's net income?
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