Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31
	This Year	Last Year
Assets
Cash	$ -8	$ 13
Accounts receivable	333	228
Inventory	150	195
Prepaid expenses	9	6
Total current assets	484	442
Property, plant, and equipment	508	429
Less accumulated depreciation	82	70
Net property, plant, and equipment	426	359
Long-term investments	24	31
Total assets	$ 934	$ 832
Liabilities and Stockholders' Equity
Accounts payable	$ 304	$ 225
Accrued liabilities	71	78
Income taxes payable	73	64
Total current liabilities	448	367
Bonds payable	198	170
Total liabilities	646	537
Common stock	164	200
Retained earnings	124	95
Total stockholders’ equity	288	295
Total liabilities and stockholders' equity	$ 934	$ 832

Weaver Company Income Statement For This Year Ended December 31
Sales		$ 754
Cost of goods sold		447
Gross margin		307
Selling and administrative expenses		223
Net operating income		84
Nonoperating items:
Gain on sale of investments	$ 5
Loss on sale of equipment	(1)	4
Income before taxes		88
Income taxes		23
Net income		$ 65

During this year, Weaver sold some equipment for $19 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $12 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $36 of its own stock. 

 

Required: 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.)