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The two following excerpts show the financial statements from two companies: 1) The statement of cash flow of Company #1 OPERATING ACTIVITIES Payments to

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The two following excerpts show the financial statements from two companies: 1) The statement of cash flow of Company #1 OPERATING ACTIVITIES Payments to suppliers Notes 2017 2016 Cash receipts resulting from: Interest and related income Payments to employees Payments relating to income taxes Other cash receipts, net Cash flows from operating activities related to continuing operations (1) INVESTING ACTIVITIES Tangible and intangible assets (3,614,038) (1,609,297) (25,179) 2,722,612 (2,525,902) (4,197,091) (1,935,571) (23,869) (181,450) (6,337,981) 34,500 5,300 27,471 61,971 64,145 69,445 Payments resulting from: Financial investments 4.0. Tangible and intangible assets (720,000) (723) (720,723) (1,000,000) (979) Cash flows from investing activities related to continuing operations (2) (658,752) (1,000,979) (931,534) FINANCING ACTIVITIES Payments resulting from: Loans repaid Interest and related expenses (57,015) (7,327) Acquisition of Own Shares Dividends 4.b. 4.C. (27,048) (13,828) (1,603,908) (25,969,766) Cash flows from financing activities related to continuing operations (3) (64,343) (64,343) (27,614,550) (27,614,550)

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