The following data are derived from the 2006 financial statements of Southwest Airlines. All dollars are in millions. Southwest has a December 31 year-end.
Cash balance, January 1, 2006 ........... $2,280
Cash paid for repayment of debt .......... 607
Cash received from issuance of common stock ...... 260
Cash received from issuance of long-term debt ..... 300
Cash received from customers ........... 9,081
Cash paid for property and equipment ........ 1,399
Cash paid for dividends ............. 14
Cash paid for repurchase of common stock ....... 800
Cash paid for goods and services ........... 7,583

Instructions
(a) After analyzing the data, prepare a statement of cash flows for Southwest Airlines for the year ended December 31, 2006.
(b) Discuss whether the company’s cash from operations was sufficient to finance its investing activities. If it was not, how did the company finance its investing activities?