Because of the dramatic growth at East Coast Yachts, Larissa decided that the company should be reorganized as a corporation. Time has passed and, today, the company is publicly traded under the ticker symbol $$ECY$.$

Dan Ervin was recently hired by East Coast Yachts to assist the company with its short$-$term financial planning and also to evaluate the company$$s financial performance. Dan graduated from college five years ago with a finance degree, and he has been employed in the treasury department of a Fortune $500$ company since then.

The company$$s past growth has been somewhat hectic, in part due to poor planning. In anticipation of future growth, Larissa has asked Dan to analyze the company$$s cash flows. The company$$s financial statements are prepared by an outside auditor. Nearby you will find the most recent income statement and the balance sheets for the past two years.

Larissa has also provided the following information. During the year, the company raised $$32\mathrm{.}4$ million in new long$-$term debt and retired $$18\mathrm{.}27$ million in long$-$term debt. The company also sold $$19\mathrm{.}62$ million in new stock and repurchased $$28\mathrm{.}872$ million. The company purchased $$48\mathrm{.}15$ million in fixed assets and sold $$4,541,400$ million in fixed assets.

Please read the closing case at the end of Chapter $2$ on East Coast Yachts. Answer the following questions:

$1)$ How would you describe East Coast Cash Flows? Provide some numeric analysis.

$2)$ Which Cash Flow statement more accurately describes the cash flow of the company and why?

$3)$ In light of your previous answers, comment on Larissa's expansion plans.