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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 $ 20 $ 12

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31
This Year Last Year
Assets
Cash $ 20 $ 12
Accounts receivable 294 228
Inventory 151 195
Prepaid expenses 9 5
Total current assets 474 440
Property, plant, and equipment 515 436
Less accumulated depreciation (81 ) (71 )
Net property, plant, and equipment 434 365
Long-term investments 27 34
Total assets $ 935 $ 839
Liabilities and Stockholders' Equity
Accounts payable $ 304 $ 225
Accrued liabilities 70 78
Income taxes payable 74 65
Total current liabilities 448 368
Bonds payable 200 172
Total liabilities 648 540
Common stock 161 202
Retained earnings 126 97
Total stockholders equity 287 299
Total liabilities and stockholders' equity $ 935 $ 839

Weaver Company Income Statement For This Year Ended December 31
Sales $ 755
Cost of goods sold 445
Gross margin 310
Selling and administrative expenses 220
Net operating income 90
Nonoperating items:
Gain on sale of investments $ 6
Loss on sale of equipment (2 ) 4
Income before taxes 94
Income taxes 24
Net income $ 70

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 several years ago. Weaver paid a cash dividend this year and the company repurchased $41 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. (List any deduction in cash and cash outflows as negative amounts.)

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