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Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash $ 9 $ 12

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31
This Year Last Year
Assets
Cash $ 9 $ 12
Accounts receivable 305 230
Inventory 156 195
Prepaid expenses 8 6
Total current assets 478 443
Property, plant, and equipment 507 427
Less accumulated depreciation (86 ) (70 )
Net property, plant, and equipment 421 357
Long-term investments 28 34
Total assets $ 927 $ 834
Liabilities and Stockholders' Equity
Accounts payable $ 304 $ 226
Accrued liabilities 71 77
Income taxes payable 72 64
Total current liabilities 447 367
Bonds payable 198 171
Total liabilities 645 538
Common stock 162 200
Retained earnings 120 96
Total stockholders equity 282 296
Total liabilities and stockholders' equity $ 927 $ 834

Weaver Company Income Statement For This Year Ended December 31
Sales $ 753
Cost of goods sold 448
Gross margin 305
Selling and administrative expenses 223
Net operating income 82
Nonoperating items:
Gain on sale of investments $ 6
Loss on sale of equipment (3 ) 3
Income before taxes 85
Income taxes 23
Net income $ 62

During this year, Weaver sold some equipment for $18 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 $38 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.

Weaver Company
Statement of Cash FlowsIndirect Method (partial)

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