Using the most recent annual report of the company you have chosen to study and that you have accessed online at the company's website, examine the statement of cash flows and accompanying notes of your company. Answer the following questions:
1. Does the company use the direct or indirect method for computing cash flows from operating activities? What effect does depreciation have on cash flows? Have receivables, inventories, and payables had positive or negative effects on cash flows from operating activities?
2. What are the most important investing activities for the company in the most recent year?
3. What are the most important financing activities for the company in the most recent year?
4. Calculate cash flow yield, cash flows to sales, cash flows to assets, and free cash flow for the most recent year.