Answer Happy

​Google, Inc.​ (GOOG), is one of the most successful
Internet​ firms, and it experienced very rapid growth in
revenues from 2011 through 2014. The cash flow statements
for​ Google, Inc. spanning the period are
found​ here:
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​(US$ millions)
​12/31/2014
​12/31/2013
​12/31/2012
​12/31/2011
Net income
$14,469
$12,930
$10,794
$9,766
Depreciation
3,476
2,774
1,951
1,356
Amortization
1,463
1,155
918
401
Deferred taxes
(112)
(431)
(233)
311
Noncash items
2,673
2,267
2,314
2,037
Changes in working capital
351
(39)
936
672
Cash from operating activities
$22,320
$18,656
$16,680
$14,543
Capital expenditures
$(10,993)
$(7,391)
$(3,248)
$(3,403)
Other investing cash flow items
(10,086)
(6,304)
(9,833)
(15,565)
Cash from investing activities
$(21,079)
$(13,695)
$(13,081)
$(18,968)
Interest and financing cash flow items
$(1,471)
$(331)
$(103)
$76
Total cash dividends paid
0
0
0
0
Issuance​ (retirement) of stock
2
0
40
0
Issuance​ (retirement) of debt
(22)
(508)
1,315
730
Cash from financing activities
$(1,491)
$(839)
$1,252
$806
Foreign exchange effects
$(482)
$(1)
$3
$29
Net change in cash
$(732)
$4,121
$4,854
$(3,590)
. Answer the following questions using the information found in
these​ statements:
a. Is Google generating positive cash flow from
its​ operations?
b. How much did Google invest in new capital expenditures over
the​ period?
c. Describe​ Google's sources of financing in the financial
markets over the​ period?
d. Based solely on the cash flow statements for 2011
through​ 2014, write a brief narrative that describes the
major activities of​ Google's management team over the
period.