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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 $ 7 $ 11

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31
This Year Last Year
Assets
Cash $ 7 $ 11
Accounts receivable 309 229
Inventory 158 196
Prepaid expenses 9 5
Total current assets 483 441
Property, plant, and equipment 509 430
Less accumulated depreciation (86 ) (71 )
Net property, plant, and equipment 423 359
Long-term investments 27 33
Total assets $ 933 $ 833
Liabilities and Stockholders' Equity
Accounts payable $ 304 $ 224
Accrued liabilities 73 78
Income taxes payable 75 64
Total current liabilities 452 366
Bonds payable 196 170
Total liabilities 648 536
Common stock 165 202
Retained earnings 120 95
Total stockholders equity 285 297
Total liabilities and stockholders' equity $ 933 $ 833

Weaver Company Income Statement For This Year Ended December 31
Sales $ 751
Cost of goods sold 449
Gross margin 302
Selling and administrative expenses 220
Net operating income 82
Nonoperating items:
Gain on sale of investments $ 7
Loss on sale of equipment (3 ) 4
Income before taxes 86
Income taxes 24
Net income $ 62

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 $37 of its own stock. This year Weaver did not retire any bonds.

Weaver Company
Statement of Cash Flows
For This Year Ended December 31
Operating activities:
Investing activities:
0
Financing activities:
0
0
Beginning cash and cash equivalents
Ending cash and cash equivalents $0

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