in the statement of cash flows ?
b . Explain how the following items reconcile net income to net cash flows from operating activities :
( 1 ) Depreciation ( 2 ) Receivables ( 3 ) Inventory ( 4 ) Reserve for returns
c . Calculate free cash flows for each year shown .
d . How does Lands ’ End use its free cash flow ? Do you think its use of free cash flows reflects good financial
strategy ?
Calculate free cash flow for the prior two years for your chosen company ; use this data in your final project .