Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash $ -26 $ 12 Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets 334 229 152 195 9 5 469 441 509 431 81 72 428 359 25 32 $ 922 $ 832 Liabilities and Stockholders' Equity Accounts payable $ 303 $ 225 Accrued liabilities 71 78 Income taxes payable 71 64 Total current liabilities 445 367 Bonds payable 195 170 Total liabilities 640 537 Common stock 160 200 Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 122 95 282 295 $ 922 $ 832 Weaver Company Income Statement For This Year Ended December 31 Sales Weaver Company Income Statement For This Year Ended December 31 Cost of goods sold Gross margin Selling and administrative expenses Net operating income. Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income $ 751 446 305 219 86 $ 6 (1) 5 91 24 $ 67 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 $13 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. 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.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: Financing activities 0 0 Beginning cash and cash equivalents