Comparative financial statements for Weaver Company follow: 2 Weaver Company Comparative Balance Sheet at December 31 This Year Last Year 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 $ 20 295 158 8 481 509 (83) 426 26 $ 933 $ 11 230 195 5 441 430 (70) 360 32 $833 $ 303 73 75 451 196 647 161 125 286 $ 933 $ 224 79 63 366 171 537 201 95 296 $833 Weaver Company Income Statement For This 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 $ 7 Loss on sale of equipment Income before taxes Income taxes Net income $ 754 446 308 219 89 6 95 25 $ 70 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 $6 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. 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: 141 Investing activities: 0 Financing activities: 0 141 Beginning cash and cash equivalents Ending cash and cash equivalents $ 141