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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 $ -24 $ 13

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31
This Year Last Year
Assets
Cash $ -24 $ 13
Accounts receivable 340 229
Inventory 151 196
Prepaid expenses 8 5
Total current assets 475 443
Property, plant, and equipment 513 434
Less accumulated depreciation 82 71
Net property, plant, and equipment 431 363
Long-term investments 25 31
Total assets $ 931 $ 837
Liabilities and Stockholders' Equity
Accounts payable $ 300 $ 226
Accrued liabilities 72 80
Income taxes payable 72 64
Total current liabilities 444 370
Bonds payable 200 170
Total liabilities 644 540
Common stock 164 201
Retained earnings 123 96
Total stockholders equity 287 297
Total liabilities and stockholders' equity $ 931 $ 837

Weaver Company Income Statement For This Year Ended December 31
Sales $ 750
Cost of goods sold 448
Gross margin 302
Selling and administrative expenses 219
Net operating income 83
Nonoperating items:
Gain on sale of investments $ 7
Loss on sale of equipment (2) 5
Income before taxes 88
Income taxes 24
Net income $ 64

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 $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $37 of its own stock. This year Weaver did not retire any bonds.

1. Using the indirect method, determine the net cash provided by/used in operating activities for this year.

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.

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