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ES Exercise D13-15 (Essay) 12 Colin Confections operates convenience stores, primarily in small Southeastern towns. The cash flows provided by financing activities section of the company's statement of cash flows for the fiscal years 2014-2016 follows (in $000). y) For the Years Ended June 30 2016 201S 2014 Proceeds from long-term debt Payment of long-term debt $100,000 (21,100) $(31,364) (22,814) 1,346 2,104 2,941 a) Proceeds from the exercise of stock options Payment of cash dividends Excess tax benefits related to stock option exercisesS12 (15,246) (13,180) (10,098) 607 919 Net cash provided (used) by financing activities $(34,488) (41,833) $70,948 At the beginning of fiscal 2016, Colin Confections had $154,523 in cash and cash equivalents; at the end of fiscal 2016, the company had $145,695 in cash and cash equivalents How have cash flows provided by financing activities changed over the three-year period? Does the fact that Colin Confections reports no proceeds from long-term debt for 2015 and 2016 mean that the company has no long-term debt? Why? Does it concern you that in two of the past three years, Colin Confections used more cash than was provided by financing activities? Why? Assignmen