Using your judgment, identify time periods of similar characteristics and classify them using the following business life cycle terms: introduction, growth, maturity, or decline (see Exhibit 10 for definitions). For each period labeled, provide support for your classification. Specifically discuss the patterns observed (e.g. in revenue, income, operating cash ow, investing cash ow, and financing cash ow) and how they indicate where Amazoncom is in the life cycle at different times. Comment on the general trend in total investment in Exhibit 3 (cash and stock) over time (excluding marketable securities). Provide possible explanations for the variation observed. What factors do you think inuence Amazon.com's decision to use cash versus stock in its acquisitions? Comment on trends observed over time in the relative amomit of cash versus stock acquisitions in Exhibit 3. iNhy do you think Amazon.com invests in marketable securities? What effect does this have on investing cash ow (CPD? 'What are the largest adjustments listed in the operating section of the cash flow statement for 1997 (Exhibit 4}? Provide an interpretation and discuss whether they should be of concern to investors