Question

Hampton Industries had $52,000 in cash at year-end 2018 and $19,000 in cash at year-end 2019....

Hampton Industries had $52,000 in cash at year-end 2018 and $19,000 in cash at year-end 2019. The firm invested in property, plant, and equipment totaling $240,000 — the majority having a useful life greater than 20 years and falling under the alternative depreciation system. Cash flow from financing activities totaled +$220,000. Round your answers to the nearest dollar, if necessary.

  1. What was the cash flow from operating activities? Cash outflow, if any, should be indicated by a minus sign.

    $   

  2. If accruals increased by $45,000, receivables and inventories increased by $155,000, and depreciation and amortization totaled $53,000, what was the firm's net income?

    $   

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