One of the signals of Xerox’s fictitious reporting is the lagging of CFFO behind net income, and it should be flagged through the following activities:

(a) Reduction in CFFO, from 25% of net income in 1995 to 18% in 1997.

(b) In 1998, a negative CFFO of \($1,165\) million was generated compared to a reported positive net income of \($395\) million.

(c) In 1999, the company’s CFFO dramatically changed to a positive figure of \($1,224\) million compared to a net income of \($1,424\) million.

(d) All of the above.