Comparative financial statements for Weaver Company follow:

Weaver Company

Comparative Balance Sheet

December 31, 2014 and 2013

20142013

Assets

Cash$14 $13

Accounts receivable 306 229

Inventory 157 195

Prepaid expenses 8 5

Total current assets 485 442

Property, plant, and equipment 505 427

Less accumulated depreciation (86) (71)

Net property, plant, and equipment 419 356

Long-term investments 26 32

Total assets$930 $830

Liabilities and Stockholders' Equity

Accounts payable$305 $225

Accrued liabilities 71 77

Income taxes payable 72 64

Total current liabilities 448 366

Bonds payable 200 170

Total liabilities 648 536

Common stock 164 200

Retained earnings 118 94

Total stockholders equity 282 294

Total liabilities and stockholders' equity$930 $830

Weaver Company

Income Statement

For the Year Ended December 31, 2014

Sales $750

Cost of goods sold 450

Gross margin 300

Selling and administrative expenses 222

Net operating income 78

Nonoperating items:

Gain on sale of investments$6

Loss on sale of equipment (2) 4

Income before taxes 82

Income taxes

22

Net income $60

During 2014, 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 $12 that had cost $6 when purchased several years ago. A cash dividend was paid during 2014 and the company repurchased $36 of its own stock. Weaver did not retire any bonds during 2014.

rev: 09_17_2014_QC_54316

4.value:

6.00 pointsRequired information

Required:

1.

Using the indirect method, determine the net cash for operating activities for 2014.