Corby Spirit and Wine Limited is a leadingCanadian marketer and distributor of premiumspirits and wine brands. Obtain a copy of thecompany's comparative financial statements forthe year ended June 30, 2015 from the company's website(www.corby.ca).

Instructions
(a) Prepare a summary report of Corby's cash activities duringits years ended June 30, 2015 and 2014 at the subtotal levelof operating, investing, and financing activities, and a comparative report for the preceding fiscal year. Do you noticea major difference in Corby's statement of cash flows fromother statements you have read or have prepared in thepast? Discuss the source of this major difference.
(b) Is Corby a capital-intensive business thatrequires high levels of investments of cash? DoesCorby have a high level of debt on its consolidated balance sheet? What are the main sourcesof financing activities?
(c) How did Corby choose to classify interest paid, interestreceived, and dividends paid on the statement of cashflows? What were the amounts for these items for fiscalyear 2015?
(d) Obtain the amount of cash dividends paid in 2015 and2014. Calculate the amount of the dividends as a percent-age of the cash derived from operating activities. Calculatethe payout ratio. Comment on the reasonableness of theamounts paid out as dividends.