The cash flow statements for retailing giant BigBox, Inc. spanning the period 20132016 are found here: . Answer the following questions using the information found in these statements:

a. Did BigBox generate positive cash flow from its operations?

b. How much did BigBox invest in new capital expenditures over the period?

c. Describe BigBox's sources of financing in the financial markets over the period.

d. Based solely on the cash flow statements for 2013 through 2016, write a brief narrative that describes the major activities of BigBox's management team over the period.

a. Did BigBox generate positive cash flow from its operations? (Select the best choice below.)

A. BigBox has generated positive cash flow from its operations during the years 2013, 2014, 2015, and 2016.

B. BigBox has generated positive cash flow from its operations during the years 2013, 2015, and 2016.

C. BigBox has generated positive cash flow from its operations during the years 2014, 2015, and 2016.

D. BigBox has generated positive cash flow from its operations during the years 2013, 2014, and 2016.

(US$ millions)	12/31/2016	12/31/2015	12/31/2014	12/31/2013
Net income	$13,010	$12,020	$11,100	$10,060
Depreciation expense	6,540	6,250	5,050	3,960
Changes in working capital	1,230	2,300	2,440	1,020
Cash from operating activities	$20,780	$20,570	$18,590	$15,040
Capital expenditures	$(15,990)	$(14,540)	$(13,980)	$(12,350)
Cash from investing activities	$(15,990)	$(14,540)	$(13,980)	$(12,350)
Interest and financing cash flow items	$(370)	$(290)	$(300)	$110
Total cash dividends paid	(3,610)	(2,770)	(2,450)	(2,150)
Issuance (retirement) of stock	(8,000)	(1,540)	(3,640)	(4,520)
Issuance (retirement) of debt	1,490	(140)	3,950	4,050
Cash from financing activities	$(10,490)	$(4,740)	$(2,440)	$(2,510)
Net change in cash	$(5,700)	$1,290	$2,170	$180