Exhibit 6.34 presents statements of cash flow for eight companies for the same year:


a. American Airlines (airline transportation)
b. American Home Products (pharmaceuticals)
c. Interpublic Group (advertising and other marketing services)
d. Procter & Gamble (consumer products)
e. Reebok (athletic shoes)
f. Texas Instruments (electronics)
g. Limited Brands (specialty retailing)
h. Upjohn (pharmaceuticals)
Discuss the relation between net income and cash flow from operations, and the pattern of cash flows from operating, investing, and financing activities for each firm.

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Statements of Cash Flows for Selected Companies (Problem 42) (all amounts in millions of US$) EXHIBIT 6.34 Amer ican Airlines Americ ลา Home Products Interpu blic Procte& Gamble Texas Instrumen ts Limi ted Reebok Upjohn Operations Net Income (Loss) Deprec iation 0ther Addbacks (Subtractions)+-.... (Inc ease) Decrease in Receivables - (Increase) Decrease n Inventories Increase (Decrease in Payables Increase (Decrease) in Other Cume nt Liabilities..._.. s (110) 5 1,528 5 2,211 $ 455 5 491 (197) (55) S 3,649 (2) Cash Flow fiom Operations Investing 112 $ 1.532 S 1,902 S 203 S 754 s (473) S(1,841) s (62) $(1,076) Sale (Acquisition) of Mar Secnities^. Sae (Acquisition) of Other Businesses..+..- Other Investing. 290 (47) 36 (5 105 4) 2.008) 5160 10123) (490 5204 Cach Flow fom Investing.S149.615) Financing Increase ( Decrease, m Short-Term Borrowing ···^^ , + Increase in Long-Term Dett .-. Increase in Capital Stock.- 30123)$(480) s(380) 8,640 414 36 (14) (949) Other Financing. Cash Flow from Financing. .. . Change in Cash Cash, Begnnn of Year (14) --*..-.. $ 395 $(1.590)102) S (241) 1,937 $ 1,696 s 36 $ 356 $292 $ 760 $ 502