Listed below are statements of cash flows for three companies in millions of dollars. Each company went public in 2014 and then commenced operations by acquiring a number of restaurants. Despite the identical profits and cash flows of each company, there are some differences in the way that each company manages its cash flows.

Instructions
(a) Which company may have too much debt?
(b) Which company probably has the highest cash total debt coverage? (You cannot calculate this; just use logic.)
(c) Which company has some problems with its operating cash flows? What is causing these problems?
(d) Why do you think that C Limited had to pay down its bank loans so much in 2015?
(e) If you were a shareholder wanting to receive dividends but were not too interested in owning shares for a long time, which company's shares might you consider buying?
(f) Which company is the most committed to growth? Do you think that this company is growing too quickly?
(g) Which company has the highest free cash flow?
(h) Based on the above, which company would you like to own or lend cash to?

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A Limited 2015 B Limited 2015 C Limited 2015 2014 2014 $ 800 800 800 $ 800 (10)-(20)_70- 2014 Operating activities Profit Depreciation Loss (gain) on disposal of non-current assets $ 800 800 200 200 210 200 1,090 (50) (50) 40 1,030 1,000 (80) (50) 1,000 (20) (10) 10 980 1,000 1,080 (80) (150) (50) (200) 90 820 1,000 (80) (50) Increase in accounts receivable Increase in inventory Increase in accounts payable Net cash provided by operating activities 930 930 930 Investing activities Disposal of property, plant, and equipment Purchases of property, plant, and equipment Net cash used by investing activities 120 50 2,350 2,000) (830 (2,000) (430) (2,000) (2.300) 2,000(780) (2,000) _(310 2,000) 50 Financing activities Bank loans received Bank loan payments made Common share sale proceeds Dividends paid Net cash provided (used) by financing activities350 Cash flow for the year Cash, January 1 Cash, December 31 700 (50) 500 1,050 (50) 1,500 (425) 115) 200 (100(20 120 (705)(5) 1,130 1,200 130 (120) 1,130 (430 80 $ 140 60 140 60 140 60