As indicated in the case at the beginning of this chapter, Xerox was manipulating income between the years 1997 through 1999. Below are revenue, gross profit, net income, and operating cash flow data for Xerox for the years 1997 through 2000.

The securitization of the finance receivables represents the sale of receivables to a third party. The cash inflow from the sale was shown in the Operating Activities section of the statement of cash flows.
Using these data, identify evidence that proves Xerox was managing its operating cash flow during this period.

(In millons) 2000 1999 1998 1997 Revenues Gross profit Net income (loss) Operating cash flow. Proceeds from securitization of finance receivables $18,701 $19,228 $19,447 $18,144 ,601 9,003 9,580 9,036 (257) 1,424 395 1,452 (663) 1,224 (1,165 472 0 0 1,495