Alta Gas Ltd. capitalizes on the supply and demand dynamic for natural gas and power by owning and operating assets in gas, power, and utilities in places that provide a strategic competitive advantage.

Instructions
Access the financial statements for AltaGas for the year ended December 31, 2014 from the company's website or from SEDAR (www.sedar.com) and answer the following questions.

(a) Review the statement of cash flows for the two years 2014 and 2013. What are the total cash flows from (or used by) operations, investing activities, and financing activities? What amount of cash was paid for dividends each year and what amount of cash was obtained from the issuance of preferred and common shares? What does the amount of the payment of dividends represent as a percentage of the amountobtained from the issuance of shares? What sources of cashare available to fund the dividends and capital investments?Calculate the payout ratio. Do you think that the dividendsare sustainable?
(b) Using the net book value of property, plant, and equipment (PPE) at December 31, 2013 as the opening balanceand items from the statement of cash flows, statement ofearnings, and related note disclosures, try to reconcile theopening and closing balance for PPE for 2014.