Analyze net change in financial activities. Include discussion of whether the company obtained new debt or equity financing over the last 3 years, how the companys debt and equity changed, and whether the company paid down debt or equity in the last 3 years.

Explain the pros and cons of having a large cash balance.

Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Apple Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions)