Hampton Industries had $74,000 in cash at year-end 2020 and $26,000 in cash at year-end 2021. The firm invested in property, plant, and equipment totaling $180,000 - the majority having a useful life greater than 20 years and falling under the alternative depreciation system. Cash flow from financing activities totaled +$110,000. Round your answers to the nearest dollar, if necessary. a. What was the cash flow from operating activities? Cash outflow, if any, should be indicated by a minus sign. $ b. If accruals increased by $5,000, receivables and inventories increased by $40,000, and depreciation and amortization totaled $7,000, what was the firm's net income? $

Hampton Industries had $74,000 in cash at year-end 2020 and $26,000 in cash at year-end 2021. The firm invested in property, plant, and equipment totaling $180,000 - the majority having a useful life greater than 20 years and falling under the alternative depreciation system. Cash flow from financing activities totaled +$110,000. Round your answers to the nearest dollar, if necessary. a. What was the cash flow from operating activities? Cash outflow, if any, should be indicated by a minus sign. $ b. If accruals increased by $5,000, receivables and inventories increased by $40,000, and depreciation and amortization totaled $7,000, what was the firm's net income? $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please answer this question correctly. Thank you.
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