Answer the following questions for each firm 1. What are the major sources of cash? What are the major uses of cash? 2. Did the entity generate enough cash from operations to cover their capital expenditures? Were cash flows from operations sufficient to cover both capex and dividend payments to shareholders? If so, what did the company do with its excess free cash flow (free cash is the addition of cash flow from operation minus capital expenditures? If not, where did the company obtain the cash used to pay for its capex and dividends? 3. Does capex exceed depreciation and amortization? What, if any, economic insights are you able to glean from this comparison? 4. Were working capital accounts (i.e., current assets and liabilities) mainly sources or uses of cash? 5. Was the company a net borrower or a net repayer of debt? 6. Trends (consider all three years when answering these questions), what are the trends in: Net income (or loss) Cash flows from operations . Capital expenditures Dividends Working capital accounts Net borrowings