Hampton Industries had $47,000 in cash at year-end 2018 and $19,000 in cash at year-end 2019. The firm invested in property, plant, and equipment totaling $100,000 β 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.
Required:
a. What was the cash flow from operating activities?
b. 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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Hampton Industries had $47,000 in cash at year-end 2018 and $19,000 in cash at year-end 2019. The fi...
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