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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 310 230
Inventory 156 194
Prepaid expenses 9 5
Total current assets 468 440
Property, plant, and equipment 510 431
Less accumulated depreciation (85 ) (70 )
Net property, plant, and equipment 425 361
Long-term investments 28 35
Total assets $ 921 $ 836
Liabilities and Stockholders' Equity
Accounts payable $ 304 $ 226
Accrued liabilities 72 80
Income taxes payable 74 64
Total current liabilities 450 370
Bonds payable 199 170
Total liabilities 649 540
Common stock 160 202
Retained earnings 112 94
Total stockholders equity 272 296
Total liabilities and stockholders' equity $ 921 $ 836

Weaver Company Income Statement For This Year Ended December 31
Sales $ 750
Cost of goods sold 447
Gross margin 303
Selling and administrative expenses 222
Net operating income 81
Nonoperating items:
Gain on sale of investments $ 5
Loss on sale of equipment (1 ) 4
Income before taxes 85
Income taxes 25
Net income $ 60

During this year, Weaver sold some equipment for $19 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 $42 of its own stock. This year Weaver did not retire any bonds.

2. Using the information in (1) above, 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.)

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