315. (Analyzing the cash flow statement) The cash flow statements for retailing giant BigBox, Inc., spanning the period 20132016 are as follows:

(US$ millions)	12/31/2016	12/31/2015	12/31/2014	12/31/2013
Net income	$13,000	$12,000	$11,000	$10,000
Depreciation expense	6,500	6,300	5,000	4,000
Changes in working capital	1,200	2,300	2,400	1,000
Cash flow from operating activities	$20,700	$20,600	$18,400	$15,000
Capital expenditures	$ (16,000)	$ (14,500)	$ (14,000)	$ (12,300)
Cash flow from investing activities	$ (16,000)	$ (14,500)	$ (14,000)	$ (12,300)
Interest and financing cash flow items	$(350)	$(250)	$(350)	$100
Total cash dividends paid	(3,600)	(2,800)	(2,500)	(2,200)
Issuance (retirement) of stock	(8,000)	(1,500)	(3,600)	(4,500)
Issuance (retirement) of debt	1,500	(100)	4,000	4,100
Cash flow from financing activities	$ (10,450)	$ (4,650)	$ (2,450)	$ (2,500)
Net change in cash	$ (5,750)	$1,450	$1,950	$200

Answer the following questions using the information found in these statements:

1. Does BigBox generate positive cash flow from its operations?

2. How much did BigBox invest in new capital expenditures over these four years?

3. Describe BigBoxs sources of financing in the financial markets over these four years.

4. Based solely on the cash flow statements for 2013 through 2016, write a brief narrative that describes the major activities of BigBoxs management team over these four years.