13-7 (Algo) Prepare a Statement of Cash Flows [LO13-1, LO13-2] [The following information applies to the questions displayed below) Comparative financial statements for Weaver Company follow Weaver Company Comparative Balance Sheet at December 31 Accrued liabilities Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investmentsE Total assets Liabilities and Stockholders' Equity Accounts payable Income taxes payable Total current liabilities This Year Last Year 5 17 $11 290 5 467 441 513 433 (73) 433 342 26 33 925 3836 #305 5225 10 79 72 447 367 Bonds payable 196 372 Total liabilities 643 539 Common stock 161 202 121 Retained earnings 95 Total stockholders' equity 283 297 Total liabilities and stockholders' equity $925 4.836 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 itens: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income 755 449 306 219 87 85 (1) 4 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 $12 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $41 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) 4 0 $ 0 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 0 0 0 $ 0