Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet December 31, 2014 and 2013
	2014		2013
Assets
Cash	$	-7	$	11
Accounts receivable		309		230
Inventory		157		194
Prepaid expenses		8		5
Total current assets		467		440
Property, plant, and equipment		513		434
Less accumulated depreciation		(85)		(70)
Net property, plant, and equipment		428		364
Long-term investments		24		31
Total assets	$	919	$	835
Liabilities and Stockholders' Equity
Accounts payable	$	300	$	225
Accrued liabilities		71		79
Income taxes payable		72		64
Total current liabilities		443		368
Bonds payable		199		170
Total liabilities		642		538
Common stock		161		202
Retained earnings		116		95
Total stockholders equity		277		297
Total liabilities and stockholders' equity	$	919	$	835

Weaver Company Income Statement For the Year Ended December 31, 2014
Sales			$	753
Cost of goods sold				449
Gross margin				304
Selling and administrative expenses				223
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				23
Net income			$	62

During 2014, 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. A cash dividend was paid during 2014 and the company repurchased $41 of its own stock. Weaver did not retire any bonds during 2014.

rev: 09_17_2014_QC_54316

2.

value: 10.00 points

Required information

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

rev: 09_17_2014_QC_54316

References

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WorksheetLearning Objective: 14-01 Classify cash inflows and outflows as relating to operating, investing, or financing activities.

Difficulty: 2 MediumLearning Objective: 14-02 Prepare a statement of cash flows using the indirect method to determine the net cash provided by operating activities.

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3.

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 2014. (List any deduction in cash and cash outflows as negative amounts.)