Answer true or false for the following statements :

148 149 Recently, Cash Flows from Investing Activities have become large negative figures due to sizable invested in acquisitions 150 Cash Flow from Financing has become a large positive cash inflow in the Disruptive Digitization era. 151 Marketable Securities may be Current and Noncurrent Assets excluded from Cash & Cash Equivalents under GAAP 152 153 154 Use the Cumulative Free Cash Flow exhibit below to answer the following questions as TRUE or FALSE 155 156 Cumulative Free Cash Flow, Net, 2014-2018 157 Apple Amazon Charter Mcdonald Netflix Tesla Sum 158 Cash-based Net Income 347,778 79,079 34,797 33,029 7,723) 2,748 489,708 159 Decrease (Increase) in Assets and Liabilitie 70,707 (47,466) (42,661) 6,189 2,869 (12,111) (22,473) 160 Capital Expenditures (CapEx) (59,799) (43,466) (27,192 (10,814) (938) (9,401) (151,610) 161 Free Cash Flow 358,686 (11,853) (35,056) 28,404 (5,792 (18,764) 315,625 162 163 Acquisitions (including Other Investments and Financ (104,039) (22,884) (53,698) 164 356 (591) (180,693 164 Dividends 61,318 0 (15,850) (77,168 165 ssues (Repurchase) of Equity (202,406 17,971 29,928 (31,454) 1,559 10,442 (173,961) 166 Issues (Retirement) of Debt 97,523 42,40 58,646 16,946 9,860 11,364 236,739 167 Deployment of Free Cash Flow, Net (270,240 37,487 34,876 (30,195) 11,775 21,215 (195,083 168 169 Increase (Decrease) in Excess Cash 88,445 25,634 (180) 1,791) 5,983 2,451 120,542 170 171 172 Companies are repurchasing significant amounts of their Equity, in some instances financing repurchases by issuing Debt. 173 hese companies largely deploy all of their free cash flows. 174 Companies with positive Free Cash Flow may still raise new Capital to finance acquisitions. 175 ee Cash Flow is based on Cash-based Net Income and management's ability to efficiently manage investments in Assets and Liabilities and control Capital Expenditures. 176 Capital Expenditures (CapEx) are deducted from Free Cash Flows to produce Cash Flow from Operations. 177 178 Trends in Cash Flows from Acquisitions 179 2014 2015 2016 2017 2018 Total 180 Campbell Soup (232) (6,772 (18) (7,022) 181 Google (4,502) (236) (986) (287) (1,491 (7,502) 182 dobe (30) (826) (48) (460) (6,314 (7,678) 183 Sofware.com 38 (59 ) (3,193) (25) (5,115) (8,354) 184 Charte 0 (28,810) (9 ) 28,819) 185 Intel (934) (913) (15,470) (14,499) (190) (32,006) 186 187 188 Info Tech companies such as Google, Adobe, Software.com and intel and are very acquisitive. 189 Charter makes acquisitions every year. 190 191 192 Cash Flow from the Decrease (Increase) in Assets, Net of Liabilities (Changes in Non-cash Net Trade Working Capital) 193 2014 2015 2016 2017 2018 Total 194 Apple 6,573 45,500 29,137 28,516 (39,020) 70,707 195 Abbvie (616) (7,871) (4,696 (1,911 48 (14,605) 196 Autozone 96 (45 ) (286) 34 2,878 2,677 197 Chipotle 2 75 (93) (54) 115 46 198 Mcdonalds 2,414 2,419 1,850 (1,991) 1,497 6,189 199 200 201 Cash Flow increases when companies liquidate assets. 202 t is always favorable to cash flow if Accounts Receivable and Inventories rise. 203 Changes in Non-cash Net Trade Working Capital can be positive or negative to Free Cash Flow