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ow. Note: the company's fiscal year ends in September, so fiscal 2018 ended on September 29, 2018. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions)
ow. Note: the company's fiscal year ends in September, so fiscal 2018 ended on September 29, 2018. CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Cash and cash equivalents, beginning of the year Years ended September 29, 2018 September 30, 2017 September 24, 2016 $ 20,289 $ 20,484 S 21,120 Operating activities: Net income 59,531 48,351 45,687 Adjustments to reconcile net income to cash generated by operating activities: Depreciation and amortization 10,903 10,157 10,505 Share-based compensation expense 5,340 4,840 4,210 Deferred income tax expense/(benefit) (32,590) 5,966 4,938 Other Changes in operating assets and liabilities: Accounts receivable, net (444) (166) 486 (5,322) (2,093) 527 Inventories 828 (2,723) 217 Vendor non-trade receivables (8,010) (4,254) (51) Other current and non-current assets (423) (5,318) 1,055 Accounts payable 9,175 8,966 2,117 Deferred revenue (44) (626) (1,554) Other current and non-current liabilities 38,490 1,125 (1,906) Cash generated by operating activities 77,434 64,225 66,231 Which of the following statements are true? i. Because the company had positive net income, we can expect them to have positive operating cash flows. ii. Related to solely to "Accounts Receivable" transactions, the company collected more cash from customers in fiscal 2018 than they "earned" from these types of transactions in fiscal 2018. iii. The company adds "depreciation and amortization" to income because these expenses affect income but not cash. O only iii is true. O none are true. only ii is true. O ii and are true. O all are true.
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