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What is the most likely conclusion for a firm whose statement of cash flows shows an increase in cash balances and has negative cash flows

What is the most likely conclusion for a firm whose statement of cash flows shows an increase in cash balances and has negative cash flows from both operations and financing?

the firm has a low interest rate on its debt.

the firm sold more equipment than it purchased.

the firm has low depreciation expense.

the firm did not pay any dividends.

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