Select a company of interest to you (macys) visit yahoo finance for info and link to its annual cash flow statement under the companys Financials tab. Answer the following questions about the firms cash flow activities.

a. Did the firm have positive or negative cash flow from operations?

b. Did the firm invest in or sell off long-term investments?

c. What were the major sources of financing for the firm?

d. What was the net change in cash?

e. Did exchange rates have any effect on the firms cash flows?

Now answer these questions:

f. How liquid is the firm?

g. How well is the firm using its assets?

h. How effectively is the firm using leverage?

i. Is the firm profitable?