Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation at December 31 Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities This Year Last Year $ 9 $ 15 340 240 125 175 10 6 484 436 616 470 93 85 517 385 16 19 $ 1,017 $ 849 $ 310 $ 230 60 72 40 34 410 336 Bonds payable Total liabilities Common stock 290 180 700 516 210 250 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 107 74 317 324 $ 1,017 $ 840 Weaver Company Income Statement For This Year Ended December 31 Sales $ 800 Cost of goods sold 500 Gross margin 300 Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments 213 87 $ 7 Loss on sale of equipment (4) 3 Income before taxes Income taxes 90 27 Net income $ 63 During this year, Weaver sold some equipment for $20 that had cost $40 and on which there was accumulated depreciation of $16. In addition, the company sold long-term investments for $10 that had cost $3 when purchased several years ago. Weaver paid a cash dividend and repurchased $40 of its own stock but did not retire any bonds. 2. Prepare a statement of cash flows for this year. Note: Cash outflows and amounts to be deducted should be indicated with a minus sign. Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: Additions to property, plant, and equipment Proceeds from sale of equipment Proceeds from sale of long-term investments Net cash used in investing activities Financing activities: Repurchase of common stock Issuance of bonds payable Cash dividends paid Net cash used in financing activities Net decrease in cash and cash equivalents Beginning cash and cash equivalents Ending cash and cash equivalents 0 0 0 $ 0