Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31
	This Year				Last Year
Assets
Cash	$	22			$	11
Accounts receivable		295				229
Inventory		151				195
Prepaid expenses		8				6
Total current assets		476				441
Property, plant, and equipment		509				430
Less accumulated depreciation		(81	)			(71	)
Net property, plant, and equipment		428				359
Long-term investments		26				32
Total assets	$	930			$	832
Liabilities and Stockholders' Equity
Accounts payable	$	302			$	224
Accrued liabilities		73				77
Income taxes payable		75				63
Total current liabilities		450				364
Bonds payable		200				172
Total liabilities		650				536
Common stock		161				202
Retained earnings		119				94
Total stockholders equity		280				296
Total liabilities and stockholders' equity	$	930			$	832

Weaver Company Income Statement For This Year Ended December 31
Sales					$	753
Cost of goods sold						448
Gross margin						305
Selling and administrative expenses						219
Net operating income						86
Nonoperating items:
Gain on sale of investments	$	7
Loss on sale of equipment		(3	)			4
Income before taxes						90
Income taxes						24
Net income					$	66

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 $13 that had cost $6 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.

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.)

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31
	This Year				Last Year
Assets
Cash	$	22			$	11
Accounts receivable		295				229
Inventory		151				195
Prepaid expenses		8				6
Total current assets		476				441
Property, plant, and equipment		509				430
Less accumulated depreciation		(81	)			(71	)
Net property, plant, and equipment		428				359
Long-term investments		26				32
Total assets	$	930			$	832
Liabilities and Stockholders' Equity
Accounts payable	$	302			$	224
Accrued liabilities		73				77
Income taxes payable		75				63
Total current liabilities		450				364
Bonds payable		200				172
Total liabilities		650				536
Common stock		161				202
Retained earnings		119				94
Total stockholders equity		280				296
Total liabilities and stockholders' equity	$	930			$	832

Weaver Company Income Statement For This Year Ended December 31
Sales					$	753
Cost of goods sold						448
Gross margin						305
Selling and administrative expenses						219
Net operating income						86
Nonoperating items:
Gain on sale of investments	$	7
Loss on sale of equipment		(3	)			4
Income before taxes						90
Income taxes						24
Net income					$	66

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 $13 that had cost $6 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.

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.)