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Assets Cash Accounts receivable Weaver Company Comparative Balance Sheet at December 31 Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation
Assets Cash Accounts receivable Weaver Company Comparative Balance Sheet at December 31 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 For This Year Ended December 31 This Year Last Year $ 26 $ 11 291 229 152 195 9 5 478 440 512 433 (82) (71) 430 362 26 32 $ 934 $ 834 $ 304 $ 224 73 79 73 63 450 366 199 172 649 538 164 200 121 285 $ 934 96 296 $ 834 Sales $750 449 Cost of goods sold Gross margin 381 219 Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments 82 Loss on sale of equipment $ 6 (2) 4 Income before taxes Income taxes 86 25 $ 61 Net income 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 $36 of its own stock. This year Weaver did not retire any bonds. Required: 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
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