Question: In 2008 Time Warner, Inc., reported a net loss of $13.4 billion. This loss occurred predominantly because Time Warner took a charge for asset impairments

In 2008 Time Warner, Inc., reported a net loss of $13.4 billion. This loss occurred predominantly because Time Warner took a charge for “asset impairments” of $24,309 million, ($24.3 billion). (These amounts do not include tax benefits.) Without these special charges, Time Warner’s net income would have been a positive $10.9 billion. Using the company’s 2008 Form 10-K, complete the requirements below. Be sure to use the Form 10-K for Time Warner, Inc., not Time Warner Cable, Inc. The Form 10-K can be found on the company’s website. It can also be obtained using the EDGAR system following the instructions in Appendix A.
Required
a. How much cash flow from operating activities did Time Warner generate?
b. Based on the statement of cash flows, how much cash did the company pay out as a result of the asset impairments?
c. How much cash did Time Warner spend on investing activities (net)?
d. How much cash did the company use the repay debt? Where did it get the cash to make these payments?

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