(Analyzing the cash flow Statement) Goggle, Inc. is an Internet firm that has experienced a period of very rapid growth in revenues over the period 2007-2010. The cash flow statements for Goggle, Inc. spanning the period are below.

12 Months Ending In Millions of U. S. Dollars 12/31/2010 12/31/2009 12/31/2008 12/31/2007 Net income $4,000 $3,050 $1,490 $420 Depreciation expense 1,010 570 310 130 Changes in working capital 600 40 40 (200) Cash from operating activities $5,610 $3,660 $1,840 $350 Capital expenditures $(3,570) $(6,980) $(3,330) $(2,000) Cash from investing activities $(3,570) $(6,980) $(3,330) $(2,000) Interest and financing cash flow items $370 $630 $0 $3 Total cash dividends paid O O Issuance (retirement) of stock 22 2.370 4.400 1,190 Issuance (retirement) of debt 0 0 (4) (3) Cash from financing activities $392 $3,000 $4.396 $1.190 Net change in cash $2,432 $(320) $2,906 $(460)