Comparative financial statements for Weaver Company follow Assets Cash and cash equivalents Accounts receivable, Inventory Prepaid expenses Total current assets Heaver Company Comparative Balance Sheet Property, plant, and equipment Less accumulated depreciation at Decenber 31 Net property, plant, and equipment Long-term investments Total assets This Year Last Year $9 $ 15 340 240 125 175 10 6 484 436 610 470 93 05 517 385 16 19 $1,017 $840 Liabilities and Stockholders' Equity Accounts payable $310 $230 Accrued liabilities 60 72 Total liabilities Income taxes payable i Total current liabilities Bonds payable Connon stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 40 34 410 336 290 180 700 316 210 250 107 74 317 324 $1,017 5040 Weaver Company Income Statement Sales For This Year Ended December 311 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 $800 500 300 213 87 (4) 90 < Previ B of 9 Next >> Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 40 34 410 336 290 180 700 516 210 250 107 74 317 324 $1,017 $ 840 Weaver Company Income Statement For This Year Ended December 31 Sales $ 800 Cost of goods sold 500 Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments 300 213 87 Loss on sale of equipment $ 7 (4) 3 Income before taxes Income taxes 90 27 Net income $ 63 During this year, Weaver sold some equipment for $20 that had cost $40 and on which there was accumulated depreciation of $16. In addition, the company sold long-term investments for $10 that had cost $3 when purchased several years ago. Weaver paid a cash dividend and repurchased $40 of its own stock but did not retire any bonds. 2. Prepare a statement of cash flows for this year. Note: Cash outflows and amounts to be deducted should be indicated with a minus sign. Operating activities: Weaver Company Statement of Cash Flows For This Year Ended December 311 austion anfiuitia ces 2. Prepare a statement of cash flows for this year. Note: Cash outflows and amounts to be deducted should be indicated with a minus sign. 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