Interpreting the statement of cash flows. Exhibit 13.20 presents a statement of cash flows for Cypres Corporation.

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Interpreting the statement of cash flows. Exhibit 13.20 presents a statement of cash flows for Cypres Corporation.

a. What are the likely reasons that net income increased between Year 11 and Year 13 but cash flow from operations decreased?

b. What are the likely reasons for the increased cash flow operations between Year 13 and Year 15?

c. How has the risk of Cypres Corporation changed over the five-year period?

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