The cash flow statement for Microsoft Corporation for the fiscal year ended June 30, 2023, is as follows:

Cash Flows from Operating Activities	Amount ($)
Net Income	$75,000,000
Depreciation Expense	$10,500,000
Increase in Accounts Receivable	$3,000,000
Decrease in Inventory	($1,500,000)
Increase in Accounts Payable	$2,500,000
Interest Expense Paid	($900,000)
Income Tax Paid	($15,000,000)
Net Cash Provided by Operating Activities	$73,600,000

Cash Flows from Investing Activities	Amount ($)
Purchase of Property, Plant, and Equipment	($12,000,000)
Proceeds from Sale of Investments	$5,500,000
Net Cash Used in Investing Activities	($6,500,000)

Cash Flows from Financing Activities	Amount ($)
Proceeds from Issuance of Long-term Debt	$15,000,000
Repayment of Short-term Borrowings	($3,000,000)
Payment of Cash Dividends	($20,000,000)
Net Cash Used in Financing Activities	($8,000,000)

a. Calculate the Cash Flow from Operations for Microsoft using the indirect method. b. Determine the Net Cash Used in Investing Activities and discuss its implications for Microsoft’s growth strategy. c. Analyze the Financing Activities section and its impact on Microsoft’s capital structure and shareholder returns.