Using the information below — what was Bala Industries’ Cash Flow from Financing for the year

1. Using the information below — what was Bala Industries’ Cash Flow from Financing for the year ending 6/30/2011?Increase in inventories $28Purchased treasury stock $22Purchased property & equipment $17Net Income $334Decrease in accrued income taxes $49Depreciation & amortization $119Decrease in accounts payable $17Increase in accounts receivable $26Increase in Long-term debt $1012.The difference between FIFO and LIFO is FIFO refers to the practice of firms, when making sales, assuming that the inventory that came in last (at a higher price) is being sold first. LIFO implies that a firm is selling the lower cost, older inventory first, leaving the higher cost, newer inventory on the balance sheet.