B (20 marks) Question 3 (a) Answer ONLY ONE question in this section Below is a summary of Tesco plc's Statement of Cash Flows for 2016 (with comparative figures for 2015). Tesco is the largest UK supermarket. Statement of Cash Flows (Summary) 52 weeks 53 weeks to to 27/02/16 28/02/15 m Em Cash generated from operations 2,434 1,467 Interest paid (426) (613) Taxation received / (paid) 118 (370) Net cash from operating activities 2,126 484 Net cash from investing activities (615) (2,015) Net cash from financing activities (604) 814 Change in cash & cash equivalents in year 907 (717) Comment on Tesco plc's statement of cash flows particularly as regards what this statement indicates about the company's operating, investing and financing activities during the two years concerned. (b) (10 marks) mi -Res A Consider the following information, for last year, concerning two different businesses operating in the same industry: Operating profit (Average) Capital Employed Sales Revenue Delta (Em) Kappa (Em) 100 2080 15 75 200 300 For each company, you are required to compute the Return on Capital Employed (ROCE) and show how to decompose it into its operating profit and net asset turnover ratio figures. Comment on your results and explain which Page 5 of 6