Starbucks is a relatively young, fast-growing company that is a pioneer and leader in its industry. Excerpts from its 2019 statement of cash flows are as follows (dollars in millions):

INSTRUCTIONS:
a. Discuss the cash management profile of Starbucks across the three-year period. Where did the company get its cash, and what did it do with it?
b. Explain how the cash management profile may be representative of a young, fast-growing company.
c. Comment on how this profile reflects the company's financial condition and performance.
d. What do you think Starbucks' future cash will look like? Will the company maintain the same profile or change to a new profile? Why?

Transcribed Image Text:

2019 2018 2017 Net income $ 3,595 $4,518 $ 2,885 Net cash from operations 5,047 11,938 4,252 Net cash from investing activities (1,011) (2,362) (850) Net cash from financing activities (10,057) (3,243) (3,079) Change in cash (6,070) 6,294 333.5