Upon review of Mack’s Statement of Cash Flows, the following

Upon review of Mack’s Statement of Cash Flows, the following was noted:

From this information, the most likely explanation is that Mack is

a. Using cash from operations and selling long-term assets to pay back debt.

b. Using cash from operations and borrowing to purchase long-term assets.

c. Using its profits to expand growth.

d. Using cash from investors to provide for operations