(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. Based solely on the cash flow statements for 2007 through 2010, select the best choice below, that describes the major activities of Goggle's management team over the period.

a. Googles management team has been investing heavily in working capital and financing them with the issuance of stocks and internally generated funds.

b. Google's management team has been investing heavily in capital expenditures and financing them with the issuance of stocks and internally generated funds.

c. Google's management team has been spending heavily in paying cash dividends and financing them with the issuance of stocks and internally generated funds.

d. Google's management team has been investing heavily in capital expenditures and financing them with the issuance of debt and internally generated funds.

Millions of U. S. Dollars Net income Depreciation expense Changes in working capital Cash from operating activities Capital expenditures Cash from investing activities Interest and financing cash flow items Total cash dividends paid Issuance (retirement of stock Issuance retirement of debt Cash from financing activities Net change in cash 12 Months Ending 12/31/2010 12/31/2009 12/31/2008 12/31/2007 $4,000 $3,050 $1 490 $420 1.010 570 310 130 (200) 600 $1,840 $5,610 $3,660 $350 $(6,980) $(3,330) 3,5700 $(2,000) $(2,000) $(3,330) $(3,570) $(6,980) $370 $630 $0 $3 4,400 2,370 1.190 (4) (3) $1,190 $392 $3,000 $4,396 $(460) $2,432 $(320) $2,906