The 2017 financial statements of LVMH Moet Hennessey-Louis Vuitton S.A. are presented in Appendix C at the end of this book. LVMH is a Paris-based holding company and one of the world's largest and best-known luxury goods companies. As a member of the European Union, French companies are required to prepare their consolidated (group) financial statements using International Financial Reporting Standards (IFRS). After reviewing LVMH's consolidated financial statements, consider the following questions:

Required

a. What was the amount of cash and cash equivalents as of December 31, 2017?

b. By what amount did cash and cash equivalents increase or decrease during the year?

c. What statement elsewhere in the annual report contains an explanation of the increase or decrease in the cash and cash equivalents amount? In that statement, what amount of cash was provided or used by (1) operating activities, and (2) financing activities?