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Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet December 31, 2014 and 2013 2014 2013 Assets Cash $ 5 $ 12

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet December 31, 2014 and 2013
2014 2013
Assets
Cash $ 5 $ 12
Accounts receivable 308 229
Inventory 158 195
Prepaid expenses 9 6
Total current assets 480 442
Property, plant, and equipment 515 437
Less accumulated depreciation (85) (71)
Net property, plant, and equipment 430 366
Long-term investments 24 30
Total assets $ 934 $ 838
Liabilities and Stockholders' Equity
Accounts payable $ 305 $ 225
Accrued liabilities 70 80
Income taxes payable 73 64
Total current liabilities 448 369
Bonds payable 198 172
Total liabilities 646 541
Common stock 164 201
Retained earnings 124 96
Total stockholders equity 288 297
Total liabilities and stockholders' equity $ 934 $ 838

Weaver Company Income Statement For the Year Ended December 31, 2014
Sales $ 755
Cost of goods sold 448
Gross margin 307
Selling and administrative expenses 223

Net operating income 84
Nonoperating items:
Gain on sale of investments $ 7
Loss on sale of equipment (2) 5

Income before taxes 89
Income taxes 24
Net income $ 65

During 2014, Weaver sold some equipment for $18 that had cost $30 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. A cash dividend was paid during 2014 and the company repurchased $37 of its own stock. Weaver did not retire any bonds during 2014.

2.

Required:
1.

Using the indirect method, determine the net cash for operating activities for 2014. (Negative amount should be entered with a minus sign.)

3.

2.

Using the information in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for 2014. (List any deduction in cash and cash outflows as negative amounts.)

4.

Required:
1.

Using the indirect method, determine the net cash for operating activities for 2014. (Negative amount should be entered with a minus sign.)

5.

2.

Using the information in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for 2014. (List any deduction in cash and cash outflows as negative amounts.)

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