Excerpts from Smart Pro Inc.'s statement of cash flows appear as follows:

Requirement
As the chief executive officer of Smart Pro Inc., your duty is to write the management letter to your shareholders to explain Smart Pro's investing activities during 2014. Compare the company's level of investment with the preceding year, and indicate the major way the company financed its investments during 2014. Net income for 2014 was $1,291 million.

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Smart Pro Inc. Consolidated Statement of Cash Flows (Partial, Adapted) For the Years Ended December 31 in millions) Cash and cash equivalents, beginning of year Net cash provided by operating activitie Cash flows provided by (used for) investing activities: 2014 $2,976 8,654 2013 $3,695 12,827 Additions to property, plant, and equipment Acquisitions of other companies Purchases of investments Sales of investments (7,309) (883) (7,141) 15,138 (195) 6,674) (2,317) (17,188) 16,144 (10,035) Net cash (used for) investing activities Cash flows provided by (used for) financing activities: Borrowing. Repayment of long-term debt Proceeds from issuance of shares Repurchase of common shares Payment of dividends to shareholders 215 (46) 797 4,007) (470) (3,511) 4.99479 $ 2,976 329 (10) 762 (4,008) (538) Net cash (used for) financing activities Net increase (decrease) in cash and cash equivalents..... Cash and cash equivalents, end of year $7,970