P17-1A Top managers of Crdit Lyonnais Group are reviewing company performance for 20X4. The income statement reports a 15% increase in net income, the fifth consecutive year with an income increase above 10%. The income statement includes a nonrecurring loss without which net income would have increased by 16%. The balance sheet shows modest increases in assets, liabilities, and stockholders' equity. The assets posting the largest increases are plant and equipment because the company is halfway through a five-year expansion pro- gram. No other assets and no liabilities are increasing dramatically. A summarized version of the cash-flow statement reports the following: Net cash inflow from operating activities... Net cash outflow from investing activities Net cash inflow from financing activities. Increase in cash during 20X4. $ 310.000 (290,000) $ 70,000 $ 90,000 Required Write a memo giving top managers of Crdit Lyonnais Group your assessment of 20X4 and your outlook for the future. Focus on the information content of the cash-flow data.