Amazon.com (AMZN), an Internet retailer, was incorporated in the early 1990s and opened its virtual doors on the Web shortly thereafter. On its statement of cash flows, would you expect Amazon.coms net cash flows from operating, investing, and financing activities to be positive or negative for its first three years of operations? Use the following format for your answers, and briefly explain your logic.

Year 1 Year 2 Year 3 Year 1 Year 2 Year 3

Net Cash flow was from operating activities Negative

Net Cash flow was from operating activities

Net Cash flow was from operating activities