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A firm's statement of cash flows shows cash flow from financing activities of $800,000 and purchased $750,000 of new property, plant, and equipment...

A firm's statement of cash flows shows cash flow from financing activities of $800,000 and purchased $750,000 of new property, plant, and equipment during the most recent year. It had $200,000 in cash at the previous year-end and $150,000 at the most recent year-end. If accounts payable increased by $5,000, inventory increased by $75,000, accruals increased by $10,000, and depreciation totaled $30,000, what was the firm's net income for the year?

A. $100,000

B. ($100,000)

C. $70,000

D. ($70,000)

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