Review the Statement of Cash Flows for Microsoft SEC 10K Report and provide a brief description of what you discover for each of the items listed below.

Category: Operating Activities

1. Net income versus total for operating activities: Report these values.
2. What are the items of significance between net income and total for operating activities?
3. Is the business providing cash flow from operations?

Category: Investing and Financing Activities

1. Describe significant long-term assets (type and amount) purchased, sold, or retired during the current period as well as last year.
2. Describe significant financing activities used by the corporation to increase cash (or other assets): These would be related to long-term liabilities and stockholders' equity.

Category: Analysis

1. Overall Cash Flow (total of three sections): Compare this year to last year.

(In mllllona) Veer Ended Jun. 30, 1019 2010 2017 Operatlons Net income 39,240 $ 16,571 $ 25,489 Adjustments to reconcile net income to net cash from operations: Depreciation, amortization, and other 11,682 10,261 8,776 Stock-based compensation expense 4,652 3,940 3,266 Net recognized gains on investments and derivatives (792) (2,212) (2,073) Deferred income taxes (6,463) (5,143) (829) Changes in operating assets and liabilities: Accounts receivable (2,012) (3,862) (1,216) Inventories 597 (465) 50 Other current assets (1,718) (952) 1,028 Other longterm assets (1,834) (285) (917) Accounts payable 232 1,148 81 Uneamed revenue 4,462 5.922 3,820 lnoome taxes 2,929 16,183 1,792 other current liabilities 1,419 798 356 Other long-term liabilities 591 (20) (113) Net cash from operations 52,185 43,884 39,507 Financing Repayments of short-term debt, maturities of 90 days or less, net 0 (7,324) (4,963) Proceeds from issuance of debt 0 7,183 44,344 Repayments of debt (4,000) (10,060) (7,922) Common stock issued 1,142 1 ,002 772 Common stock repurchased (19,543) (10,721) (11,788) Common stock cash dividends paid (13,611) (12,699) (11,845) Other, net (615) (971) (190) Net cash from (used in) nancing (36,887) (33,590) 8,408 investing Additions to property and equipment (13,925) (11,632) (8,129) Acquisition of companies, net of cash acquired. and purchases of intangible and other assets (2,386) (688) (25,944) Purchases of investments (57,697) (137,380) (176,905) Maturities of investments 20,043 26,360 28,044 Sales of investments 38,194 117,577 136,350 Securities lending payable 0 (98) (197) Net cash used in investing (15,773) (6,061) (46,781) Eect of foreign exchange rates on cash and cash equivalents (115) 50 19 Net change in cash and cash equivalents (590) 4,283 1,153 Cash and cash equivalents, beginning of period 11,946 7,663 6,510 Cash and cash equivalents. end of period 11,356 $ 11,946 $ 7,663