Cash Flow Analysis: In this section, answer the following for the trend analysis: What are the total cash flows from operating, investing and financing activities as well as the change in in cash and cash equivalents for each year? How have these numbers changed over the three years and what could be some reasons why these numbers have changed the way they have? In addition, pick at least one appropriate (for this statement) ratio or financial in addition to what is provided and calculate that and explain it. See the section on ratio analysis below for ideas.

Cash Flow

All numbers in thousands

Period Ending	1/31/2016	1/31/2015	1/31/2014
Net Income	14,694,000	16,363,000	16,022,000
Operating Activities, Cash Flows Provided By or Used In
Depreciation	9,454,000	9,173,000	8,870,000
Adjustments To Net Income	738,000	-3,000	515,000
Changes In Accounts Receivables	-19,000	-569,000	-566,000
Changes In Liabilities	2,839,000	4,093,000	-590,000
Changes In Inventories	-703,000	-1,229,000	-1,667,000
Changes In Other Operating Activities	-	-	-
Total Cash Flow From Operating Activities	27,389,000	28,564,000	23,257,000
Investing Activities, Cash Flows Provided By or Used In
Capital Expenditures	-11,477,000	-12,174,000	-13,115,000
Investments	-	-	-
Other Cash flows from Investing Activities	802,000	1,049,000	589,000
Total Cash Flows From Investing Activities	-10,675,000	-11,125,000	-12,526,000
Financing Activities, Cash Flows Provided By or Used In
Dividends Paid	-7,013,000	-6,785,000	-6,565,000
Sale Purchase of Stock	-5,438,000	-2,859,000	-6,979,000
Net Borrowings	-3,158,000	-5,018,000	3,015,000
Other Cash Flows from Financing Activities	-513,000	-409,000	-260,000
Total Cash Flows From Financing Activities	-16,122,000	-15,071,000	-10,789,000
Effect Of Exchange Rate Changes	-1,022,000	-514,000	-442,000
Change In Cash and Cash Equivalents	-430,000	1,854,000	-500,000