Consider each financial transaction and determine how it would affect cash flow from assets,

cash flow to stockholders, or cash flow to creditors.

Match

increase in ocf increase cash flow from assets

repurchase stock decrease cash flow to stockholders

issue new debt decrease cash flow from assets

pay dividends increase cash flow to creditors

retire (pay off debt) increase cash flow to stockholders

purchase fixed assets decrease cash flow to creditors

pay interest expense

increase in net working capital

issue new stock