Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash and cash equivalents $ 28 $ 12 Accounts receivable 292 230 Inventory 155 195 Prepaid expenses 9 6 Total current assets 484 443 Property, plant, and equipment 503 424 Less accumulated depreciation (81 ) (70 ) Net property, plant, and equipment 422 354 Long-term investments 28 34 Total assets $ 934 $ 831 Liabilities and Stockholders' Equity Accounts payable $ 301 $ 224 Accrued liabilities 73 78 Income taxes payable 73 63 Total current liabilities 447 365 Bonds payable 199 172 Total liabilities 646 537 Common stock 162 200 Retained earnings 126 94 Total stockholders equity 288

294 Total liabilities and stockholders' equity $ 934 $ 831 Weaver Company Income Statement For This Year Ended December 31 Sales $ 755 Cost of goods sold 445 Gross margin 310 Selling and administrative expenses 221 Net operating income 89 Nonoperating items: Gain on sale of investments $ 6 Loss on sale of equipment (3 ) 3 Income before taxes 92 Income taxes 22 Net income $ 70 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. Brewer_8e_Rechecks_2020_01_27 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.)