3.14, 3.16, 3.23, Q3.4 on Page 113

3.16
Pfizer: The maximum cash inflow is generated by the company though its operations and the investing activities. The cash inflow forms these activities is used in the financing activities.
Johnson & Johnson: The only cash inflow generated by the company is though its operating activities and the cash inflow is used by the company to finance its investing and financing activities.
The Operating profit is calculated after deducting all the operating expenses like depreciation. But the Cash Flow from Operations is calculated by adding back the non-cash expenditure and the investing and financing expenditure. Hence the cash flow from operations is greater.
3.14
1. Investing
2. Financing
3. Operating
4. Financing
5. Financing
6. Operating
7. Operating
8. Investing
9. None of the above
10. Financing
3.4
The major reason for the difference between the net income of the...