What was the firm net income » Full Grade
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Question – Hampton Industries had $65,000 in cash at year-end 2020 and $23,000 in cash at year-end 2021. The firm invested in property, plant, and equipment totaling $110,000 – the majority having a useful life greater than 20 years and falling under the alternative depreciation system. Cash flow from financing activities totaled +$130,000. Round your answers to the nearest dollar, if necessary.
What was the cash flow from operating activities? Cash outflow, if any, should be indicated by a minus sign.
If accruals increased by $15,000, receivables and inventories increased by $155,000, and depreciation and amortization totaled $71,000, what was the firm’s net income?
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