W.C. Cycling had $52,000 of cash at year-end 2011 and $21,000 in cash at year-end 2012. The firm invested in property, plant, and equipment totaling $280,000. Cash flow from financing activities totaled +$120,000. Round your answers to the nearest dollar, if necessary.

1. What was the cash flow from operating activities?
2. If accruals increased by $30,000, receivables and inventories increased by $140,000, and depreciation and amortization totaled $65,000, what was the firm's net income?