Company: ExxonMobil Corporation

Item	Amount (in millions)
Net Income	$23,040
Depreciation and Amortization	$10,000
Change in Working Capital	$-1,500
Cash Flow from Operating Activities	$31,540
Capital Expenditures	$15,000
Cash Flow from Investing Activities	-$16,000
Cash Flow from Financing Activities	-$5,000
Beginning Cash Balance	$4,500
Ending Cash Balance	$15,040

Questions:

1. What is ExxonMobil’s free cash flow?
2. Calculate the net change in cash for ExxonMobil.
3. Determine the cash flow to sales ratio if ExxonMobil’s revenue is $285,640 million.
4. If ExxonMobil paid $14,000 million in dividends, what is the dividend payout ratio?

What is the cash flow from operations to net income ratio?