Refer to the statements of cash flows for the years ended 1994, 1993, and 1992 for Sprint, which can be found in Figure 14-4 in the text, and answer the following questions.

a. In what general ways has cash provided by operating activities been used in 1992, 1993, and 1994?

b. Comment on Sprint’s dividend payment strategy during 1992, 1993, and 1994.

c. Describe the change in borrowing strategy evident over the past three years.

d. What has happened to the company’s current assets and liabilities during 1992 through 1994?