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Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 Assets Cash $ 8 $ 13

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 Assets Cash $ 8 $ 13 Accounts receivable 305 228 Inventory 155 194 Prepaid expenses 9 5 Total current assets 477 440 Property, plant, and equipment 509 430 Less accumulated depreciation (86) (70) Net property, plant, and equipment 423 360 Long-term investments 29 35 Total assets $ 929 $ 835 Liabilities and Stockholders' Equity Accounts payable $ 302 $ 224 Accrued liabilities 73 79 Income taxes payable 72 64 Total current liabilities 447 367 Bonds payable 196 172 Total liabilities 643 539 Common stock 162 201 Retained earnings 124 95 Total stockholders equity 286 296 Total liabilities and stockholders' equity $ 929 $ 835

Weaver Company Income Statement For the Year Ended December 31, 2015 Sales $ 754 Cost of goods sold 447 Gross margin 307 Selling and administrative expenses 222

Net operating income 85 Nonoperating items: Gain on sale of investments $ 7 Loss on sale of equipment (2) 5

Income before taxes 90 Income taxes 22 Net income $ 68

During 2015, 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 2015 and the company repurchased $39 of its own stock. Weaver did not retire any bonds during 2015.

1. value: 10.00 points Required information

Required: 1.

Using the indirect method, determine the net cash provided by/used by operating activities for 2015. (Negative amount should be entered with a minus sign.)

References eBook & Resources WorksheetLearning Objective: 12-01 Classify cash inflows and outflows as relating to operating, investing, or financing activities. Difficulty: 2 MediumLearning Objective: 12-02 Prepare a statement of cash flows using the indirect method to determine the net cash provided by operating activities. Check my work 2. value: 10.00 points Required information

2.

Using the information in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for 2015. (List any deduction in cash and cash outflows as negative amounts.)

References eBook & Resources

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