The following data are derived from the 2009 financial statements of Southwest Airlines. All dollars are in millions. Southwest has a December 31 year-end.
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Cash balance, January 1, 2009
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$1,390
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Cash paid for repayment of debt
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122
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Cash received from issuance of common stock
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144
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Cash received from issuance of long-term debt
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500
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Cash received from customers
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9,823
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Cash paid for property and equipment
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1,529
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Cash paid for dividends
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14
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Cash paid for repurchase of common stock
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1,001
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Cash paid for goods and services
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6,978
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Instructions
(a) After analyzing the data, prepare a statement of cash flows for Southwest Airlines for the year ended December 31, 2009.
(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?