Hi,

Please kindly find my question as attached.

Thanks so much.

Assignment 3: Statement of Cash Flows Overview of the Assignment - Analyze Apple's Statement of Cash Flows of 2014, 2013 and 2012. You can retrieve Apple's annual report from http://www.sec.gov/edgar/searchedgar/companysearch.html by searching Apple Inc. 10-k indicates annual reports; 10-q indicates quarterly reports. You will focus on annual reports for this assignment. You are part of the team of Long & Associates Financial Accountants/Consultants. A client/investor is considering investing in Apple, the consumer products giant. They come to your firm to understand the company performance and eventually to make an investment decision on buying, selling, or holding Apple's stocks. You have been tasked with the job of analyzing Apple's Statement of Cash Flows of 2014, 2013, and 2012 and reporting to the investor your findings. The following list of questions provides a good start for a comprehensive summary of Apple's cash positions. Please limit your report into 4 pages, double spaced. An acceptable report should address the following questions. a. What was Apple's net change in cash for 2014? b. Can you explain why Apple's net cash flow from operating activities is higher than the net income reported for 2014? c. Why did Apple experience decreasing net income in 2013 but increasing cash flow from operating during 2012 and 2013? d. What is the likely explanation for the changes in Apple's net cash flow from financing during the three-year period? e. What is Apple's largest investment using cash in 2014? What is the likely explanation for the changes in Apple's cash flow from investing during the three-year period