Net cash generated from operating activities	318,257	316,062	(161,945)
Cash flows from investing activities
Proceeds from/(investment in) government securities	298,900	298,900	-
Investment in trading assets	(416,163)	(416,163)	(4,346)
Purchase of intangible assets	(16,410)	(12,129)	(178,099)
Purchase of property and equipment	(170,380)	(161,878)	-
Investment in subsidiaries	-	(10,898)	(344,390)
Net cash (used in )/ generated from investing activities	(304,053)	(302,168)	-
Cash flows from financing activities
Proceeds from borrowings	97,293	97,293	(255,468)
Repayment of borrowings	(295,139)	(295,139)	(5,775)
Principal lease payments	(12,872)	(12,626)	(261,243)
Dividends paid	(36,747)	(36,747)	53,795
Net cash (used in)/generated from financing activities	(247,465)	(247,219)	1,798,434

Ms Moono who has shares in Zanaco has said looking at the case study am very
concerned because when the financial statement are presented my focus is on the income statement
and the EPS. She has given you the 2019 Zanaco financial statements and wants your advice on the
financial flexibility of Zanaco.
Basing on the Zanaco financial statements extract attached interpret the
cash flow statement for Zanaco and advise her on the following ;
a. Financial flexibility
b. Free cash flow.