Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31 This YearLast YearAssets Cash$ -25$ 12Accounts receivable331228Inventory152194Prepaid expenses95Total current assets467439Property, plant, and equipment512433Less accumulated depreciation8070Net property, plant, and equipment432363Long-term investments2734Total assets$ 926$ 836Liabilities and Stockholders' Equity Accounts payable$ 300$ 225Accrued liabilities7278Income taxes payable7464Total current liabilities446367Bonds payable200172Total liabilities646539Common stock162202Retained earnings11895Total stockholders equity280297Total liabilities and stockholders' equity$ 926$ 836

Weaver Company Income Statement For This Year Ended December 31Sales $ 750Cost of goods sold 448Gross margin 302Selling and administrative expenses 219Net operating income 83Nonoperating items: Gain on sale of investments$ 5 Loss on sale of equipment(2)3Income before taxes 86Income taxes 23Net income $ 63

During this year, 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 $12 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $40 of its own stock. This year Weaver did not retire any bonds.

Problem 13-7 Part 2 (Algo)

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