The Apollo Group is one of the largest providers of private education, and runs numerous programs and

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The Apollo Group is one of the largest providers of private education, and runs numerous programs and services, including the University of Phoenix. Exhibit 3.25 provides the statement of cash flows for 2012.
Required
Discuss the relations between net income and cash flow from operations and among cash flows from operating, investing, and financing activities for the firm, especially for 2012. Identify signals that might raise concerns for an analyst?
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