Net income 27-0 12 0 15 MM Add depreciation & amortization Changes in operating sovets liabilities Increase in accounts receivable Increase in inventory Increase in gocounts popable Cash flow from operations Inwestments in FFE (CAFEX) Sale of FFE Im estments in other assets Sale of other assets Cash flow from investment activities Issue of equity Equity retirement or treasury buybacks Dividends paid New debt / borrowings Retirement or repayment of debt Cash flow from financing scavities Net cash flow for the year Bepinning cash balance Ending cach balance