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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 $ 15 $ 13

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31
This Year Last Year
Assets
Cash $ 15 $ 13
Accounts receivable 295 229
Inventory 150 195
Prepaid expenses 8 5
Total current assets 468 442
Property, plant, and equipment 512 433
Less accumulated depreciation (81 ) (71 )
Net property, plant, and equipment 431 362
Long-term investments 25 31
Total assets $ 924 $ 835
Liabilities and Stockholders' Equity
Accounts payable $ 302 $ 225
Accrued liabilities 72 77
Income taxes payable 71 65
Total current liabilities 445 367
Bonds payable 196 171
Total liabilities 641 538
Common stock 161 202
Retained earnings 122 95
Total stockholders equity 283 297
Total liabilities and stockholders' equity $ 924 $ 835

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 22
Net income $ 68

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.

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.)

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