See the cash flow statement below (all values in thousands of dollars) (see MyFinanceLab for the data in Excel format):

a. What were the company's cumulative earnings over these four quarters? What were its cumulative cash flows from operating activities?

b. What fraction of the cash from operating activities was used for investment over the four quarters?
c. What fraction of the cash from operating activities was used for financing activities over the four quarters?

Quarter Net income Operating Activities, Cash Flows Provided by or Used in 276,710 228,964 194,062 218,532 75,733 13,142) (53,218) 82,816 111,577) 195,186 114,121) (26,574) 73,173 47,993) (84,711) 39,949 57,681 69,997 4,359 (38,869) 74,570 Depreciation Adjustments to net income Changes in accounts receivable Changes in liabilities Changes in inventories Changes in other operating activities 100,732 201,725 85,028 12,692 17,675 Total Cash Flow from Operating Activities Investing Activities, Cash Flows Provided by or Used in 227,502 (13,935) 717,635 41,634) 5,465 (100,109) 93,153) (58,069) 69,170) (48,330) 20,652 Capital expenditures (82,584) (5,465) (108,903) Other cash fows from investing Total Cash Flows from Investing Activities (196,952) (35,437) (251,331) (96,848) Financing Activities, Cash Flows Provided by or Used in Dividends paid Sale purchase of stock Net borrowings Other cash fiows from financing 131,483)( (131,333)(119,452) 78,774 515,709 (282) 1,210 114,766 2,000 (76,807) (283,696) (46,234) (121,404) (79,288) 64,885 39,763 Total Cash Flows from Financing 462,718 (13,357) (526,189) (96,044) 32,807 (27,078)$68,532 6.890 Effect of exchange rate changes Change in Cash and Cash (119,960) (610)