2 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 Lant Year ak ces $ 11 291 152 8 462 511 (81) 430 26 $ 918 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Not property, plant, and equipment Long-term investments Total assets Liabilities and stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Donds payable Total 13 abilities Commons atock Retained earninge Total stockholders' equity Total liabilities and stockholders' equity $ 12 229 195 5 441 431 (72) 359 33 $833 $ 300 71 72 443 196 639 163 116 279 $224 79 64 36 171 530 202 93 295 $ 918 $833 Weaver Company Tinatamant hesday Homework o Saved Weaver Company Income Statement For Whis Year Ended December 31 Sales 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 $754 449 305 223 82 $ 6 (2) 4 86 24 $ 62 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 $13 that had cost $7 when purchased severa years ago. Weaver paid a cash dividend this year and the company repurchased $39 of its own stock. This year Weaver did not retire any bonds. equired: Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cash ad cash outflows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Mothod (partial) Net Income $ 62 0 $ 62 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