Company A has the following Statement of Cash Flows: Company A Statement of Cash Flows Cash Flow from Operating Activities Net Income 600,000 Depreciation 60,000 Change in Accounts Receivable (220,000) Change in Inventory 25,000 Change in Other Current Assets (50,000) Change in Accounts Payable 80,000 Change in Accrued Expenses (45,000) Cash Flow from Operations 450,000 Cash Flow from Investing Activities Purchases of PP&E (50,000) Disposal of PP&E 48,000 Cash Flow from Investing (2,000) Cash Flow from Financing Activities Sale of Capital Stock 92,000 Repurchase of Capital Stock (44,000) Change in Borrowings (106,000) Payment of Dividends (52,000) Cash Flow from Financing (110,000) Net Change in Cash 338,000 Company A is MOST likely in what stage of the business life-cycle? Start-up / fast growing Profitable / growing Mature / steady state Declining / shrinking