1.) Part 1

Required information [The following information applies to the questions displayed below} Comparative financial statements for Weaver Company follow: weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash $ 19 $ 13 accounts receivable 33?f 236 Inventory 152 196 Prepaid expenses 9 6 Total current assets 429 445 Property, plant, and equipment 569 436 Less accumulated depreciation 86 2'1 Net property, plant, and equipment 429 359 Longterm investments 24 36- Total assets $ 932 $ 334 Liabilities and Stockholders' Equity Accounts payable $ 366 $ 225 Accrued liabilities ?2 2'6 Income taxes payable 3'5 54 Total current liabilities 44? 3E? Bonds payable 193 126 Total liabilities 645 537II Common stock 154 262 Retained earnings 123 95 Total stockholders' equity 28? 29? Total liabilities and stockholders' equity $ 932 $ 334 'ldeaver Company Income Statement For This Year Ended December 31 Sales $ 751 Cost of goods sold 44-6 Gross margin 365 Selling and administrative expenses 226 Net operating income 85 Nonoperating items: Gain on sale of investments S 6 Loss on sale of equipment 2 4 Income before taxes 89 Income taxes 23 Net income $ 55 During this year, Weaver sold some equipment for $19 that had cost $31 and on which there was accumulated depreciation of $10. In addition. the company sold longterm investments for $12that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $38 of its own stock. This year Weaver did not retire any bonds. bales x. :51 Cost of goods sold 445 Gross margin 365 Selling and administrative expenses 226 Net operating income 85 Nonoperating items: Gain on sale of investments 5 6 Loss on sale of equipment {2} 4 Income before taxes 89 Income taxes 23 Net income $ 55 During this year, Weaver sold some equipment for $19 that had cost $31 and on which there was accumulated depreciation of $10. In addition, the company sold longterm investments for $12 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $38 of its own stock. This year Weaver did not retire any bonds. Required: 1. Using the indirect method, determine the net cash provided byr'used in operating activities for this year (List any deduction in cash and cash outflows as negative amounts.) Required information {The following information appiies to the questions displayed DE'J'IOWU." Comparative financial statements for Weaver lCompany follow: weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash $ 19 $ 13 Accounts receivable 33? 236 Inventory 152 195 Prepaid expenses 9 5 Total current assets 4?9 445 Property, plant, and equipment 569 436 Less accumulated depreciation 86 ?1 Net propertyJ plantJ and equipment 429 359 Longterm investments 24 36 Total assets $ 932 $ 334 Liabilities and Stockholders' Equity Accounts payable $ 366 $ 225 Accrued liabilities ?2 ?8 Income taxes payable ?5 54 Total current liabilities 44? 3E? Bonds payable 198 1?6 Total liabilities 645 53? Common stock 154 262 Retained earnings 123 95 Total stockholdersJ equity 28? 29? Total liabilities and stockholders' equity $ 932 $ 334 weaver Company Income Statement For This Year Ended December 31 Sales $ ?51 Cost of goods sold 445 Gross margin 365 Selling and administrative expenses 226 Net operating income 85 Nonoperating items: Gain on sale of investments 5 6 Loss on sale of equipment {2} 4 Income before taxes 69 Income taxes 23 Net income 5 55 During this year, Weaver sold some equipment for $19 that had cost $31 and on which there was accumulated depreciation of $10. In addition' the company sold longterm investments for $121hat had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $38 of its own stock. This year Weaver did not retire any bonds. For This Year Ended December 31 Sales $ 751 Cost of goods sold 446 Gross margin 305 Selling and administrative expenses 220 Net operating income 85 Nonoperating items : Gain on sale of investments 5 6 Loss on sale of equipment Income before taxes 89 Income taxes 23 Net income $ 66 During this year, Weaver sold some equipment for $19 that had cost $31 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $12 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $38 of its own stock. This year Weaver did not retire any bonds. 2. Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities Investing activities: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents $