Make 2 observations relative to the information in the Cash Flows from Operations section of the Statements of Cash Flows.

Elliott Corp Statements of Cash Flows For the Years Ended December 31, 2014, 2015 & 2016 (millions) 2014 2015 2016 $ $ $ 281 125 321 129 347 136 12 Cash Flow From Operations Net Income Depreciation Expense Impact on Cash of Changes in Working Capital Accounts: Accounts Receivable Inventories Prepaid Assets Accounts Payable Accrued Warranty Costs Other Current Liabilities Cash Flow From Operations 24 8 10 (12) 8 456 (68) (78) 5 (12) (42) 12 267 (139) (94) (20) 29 (62) 10 207 Cash Flow From Investing Activites Purchase of Equipment Change in Other Assets Cash Flow From Investing Activities (74) 1 (73) (84) 2 (82) (94) 5 (89) Cash Flow From Financing Activities Repayment of Long-term Debt Dividends Paid Proceeds from Issuance of Class B Stock Cash Flow From Financing Activities (125) (65) (125) (70) (125) (80) 20 (185) (190) (195) 193 (10) (67) Increase (Decrease) in Cash and Equivalents Cash and Equivalents: Beginning of Year End of Year 319 512 502 435 $ 512 502 $ $ $