Goggle, Inc. is an Internet firm that has experienced a period of very rapid growth in revenues over the period 2007€“2010. The cash flow statements for Goggle, Inc. spanning the period are as follows:

Answer the following questions using the information found in these statements:
a. Is Goggle generating positive cash flow from its operations?
b. How much did Goggle invest in new capital expenditures over the last four years?
c. Describe Goggle€™s sources of financing in the financial markets over the last four years.
d. Based solely on the cash flow statements for 2007 through 2010, write a brief narrative that describes the major activities of Goggle€™s management team over the last fouryears.

In Millions of U.S. Dollars Net income Depreciation expense Changes in working capital 12/31/2010 12/31/2009 12/31/2008 12/31/2007 S4,000 3,000 1,500 S 400 150 (250) Cash from operating activities 5.600 3650 L850 5 30 S(3,600 (7,000) SI3,300) 5(2,000) Cash from investing activities 3,600,000 3,300(2,000) 1,000 600 300 50 600 Capital expenditures Interest and financing cash flow items Total cash dividends paid Issuance (retirement) of stock Issuance (retirement) of debt S 400 S 600 0 1,200 424 3000398 1.200 2,424 (350) 2,948 S (500) 24 2,400 4,400 Cash from finangtivites Net change in cash