Use the indirect method to answer questions 7-10. The following information is available for Armstrong Company:

Net income $450 Increase in plant and equip. $170

Depreciation expense 80 Payment of dividends 10

Decrease in accts. receiv. 20 Increase in long-term debt 100

Increase in inventories 15 Decrease in accounts payable 30

7. What is cash flow from operating activities for Armstrong Company?

a. $505

b. $495

c. $335

d. $55

8. What is cash from investing activities for Armstrong Company?

a. ($160)

b. $160

c. $170

d. ($170)

9. What is cash from financing activities for Armstrong Company?

a. $70

b. $60

c. $90

d. ($110)

10. What is the change in cash for Armstrong Company?

a. $315

b. $565

c. $425

d. $215