1. What is the value of net cash flow from operating activities? What is value of net cash flow from investing activities?

Income Statement (Millions of $) in Year 2017 Net sales $48,000 $21,000 $27,000 Cost of goods sold Gross profit Operating costs except depreciation Depreciation Earnings bf interest and taxes (EBIT) 7,000 2,000 $11,000 Interest expense 800 Earnings before taxes (EBT) Taxes $10,200 $2,550 $7,650 Net income 2017 2016 Assets Cash and securities $6,300 $2,100 Accounts receivable 3,700 3,200 Inventories 8,000 Total current assets Gross fixed assets $18,000 $ 30,000 11,000 8,000 $13,300 17,000 2,000 15,000 $28,300 less: Cumulated depreciation Net fixed assets 19,000 $37,000 Total assets Liabilities and Equities Accounts payable Notes payable Accruals 3,500 7,000 2,500 3,100 7,000 Total current liabilities Long-term bonds Common stock 13,000 5,000 10,000 9,000 37,000 2,200 12,300 3,120 10,000 2,880 28,300 Retained earnings Total liabilities and equity