Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 Assets...

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Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity. Weaver Company Income Statement This Year Last Year $ -26 $ 12 334 229 152 195 9 5 469 441 509 431 81 72 428 359 25 32 $ 922 $ 832 $ 303 $ 225 71 78 71 64 445 367 195 170 640 537 160 200 122 95 282 295 $ 922 $ 832 13 Sales Weaver Company Income Statement For This Year Ended December 31 Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income $ 751 446 305 219 861 $ 6 (1) 5 91 24 $ 67 During this year, Weaver sold some equipment for $19 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $40 of its own stock. This year Weaver did not retire any bonds. Required: 1. Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cash and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Method (partial) 0 0 Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity. Weaver Company Income Statement This Year Last Year $ -26 $ 12 334 229 152 195 9 5 469 441 509 431 81 72 428 359 25 32 $ 922 $ 832 $ 303 $ 225 71 78 71 64 445 367 195 170 640 537 160 200 122 95 282 295 $ 922 $ 832 13 Sales Weaver Company Income Statement For This Year Ended December 31 Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income $ 751 446 305 219 861 $ 6 (1) 5 91 24 $ 67 During this year, Weaver sold some equipment for $19 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $40 of its own stock. This year Weaver did not retire any bonds. Required: 1. Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cash and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Method (partial) 0 0