AOS Industries Statement of Cash Flows for 2008

Operating activities

Net Income 3.2

Depreciation and amortization 1.4

Cash effect of changes in

Accounts receivable 2.1

Accounts payable 1.1

Inventory 0.8

Cash from operating activities 8.6

Investment activities

Capital expenditures

-2.2

Acquisitions and other investing activity

-0.4

Cash from investing activities -2.6

Financing activities

Dividends paid

-1.5

Sale or purchase of stock 2.1

Increase in short-term borrowing 1.4

Increase in long-term borrowing 3.2

Cash from financing activities 5.2

Change in Cash and Cash Equivalents 11.2

Consider the above statement of cash flows. What were AOS Industries' major means of raising money in 2008?

A.

from investment activities

B.

by sale of stock

C.

from its operations

D.

by issuing debt