Calculate the following: Amazon's Price-Earnings Ratio Amazon's Book Value per Share Amazon's Return on Assets Amazon's Return on Equity After calculating the above use the results to justify why you would or would not invest in the company. AMAZON.COM, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) ?CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD OPERATING ACTIVITIES: Net income (loss) Adjustments to reconcile net income (loss) to net cash from operating activities: Depreciation of property and equipment, including internal-use software and website development, and other amortization Stock-based compensation Other operating expense (income), net Losses (gains) on sales of marketable securities, net Other expense (income), net Deferred income taxes Excess tax benefits from stock-based compensation Changes in operating assets and liabilities: Inventories Accounts receivable, net and other Accounts payable Accrued expenses and other Additions to unearned revenue Amortization of previously unearned revenue Net cash provided by (used in) operating activities INVESTING ACTIVITIES: Purchases of property and equipment, including internal-use software and website development Acquisitions, net of cash acquired, and other Sales and maturities of marketable securities and other investments Purchases of marketable securities and other investments Net cash provided by (used in) investing activities FINANCING ACTIVITIES: Excess tax benefits from stock-based compensation Common stock repurchased Proceeds from long-term debt and other Repayments of long-term debt Principal repayments of capital lease obligations Principal repayments of finance lease obligations Net cash provided by (used in) financing activities Foreign-currency effect on cash and cash equivalents Net increase (decrease) in cash and cash equivalents CASH AND CASH EQUIVALENTS, END OF PERIOD SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest on long-term debt Cash paid for income taxes (net of refunds) Property and equipment acquired under capital leases Property and equipment acquired under build-to-suit leases $ 8,658 (241) 4,746 1,497 129 (3) 62 (316) (6) (1,193) (1,039) 1,759 706 4,433 (3,692) 6,842 (4,893) (979) 3,349 (2,542) (5,065) 6 6,359 (513) (1,285) (135) 4,432 (310) 5,899 14,557 $ 8,084 274 3,253 1,134 114 1 166 (156) (78) (1,410) (846) 1,888 736 2,691 (2,292) 5,475 (3,444) (312) 2,306 (2,826) (4,276) 78 394 (231) (775) (5) (539) (86) 574 8,658 $ 2014 Year Ended December 31, 2013 2012 5,269 (39) 2,159 833 154 (9) 253 (265) (429) (999) (861) 2,070 1,038 1,796 (1,521) 4,180 (3,785) (745) 4,237 (3,302) (3,595) 429 (960) 3,378 (82) (486) (20) 2,259 (29) 2,815 8,084 ??????????????????$ $ $ $ ??????????????????????????????91 177 4,008 920 See accompanying notes to consolidated financial statements. $ 97 169 1,867 877 $ 31 112 802 29