Top managers of Relax Inns are reviewing company performance for 20X9. The income statement reports a 20% increase in net income over 20X8. However, most of the increase resulted from an extraordinary gain on insurance proceeds from storm damage to a building. The balance sheet shows a large increase in receivables. The cash-flow statement, in summarized form, reports the following:

Required
Write a memo giving Relax Inns' managers your assessment of 20X9 operations and your outlook for the future. Focus on the information content of the cash-flow data.

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Net cash used for operating activities Net cash provided by investing activities... Net cash provided by fina ncing activities.50,000 Increa se in cash during 20X9 $(80,000) 40,000 uring Z0A9u.