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Comparatlve financlal statements for Weaver Company follow: Durlng this year, Weaver sold some equipment for $18 that had cost $30 and on which there was
Comparatlve financlal statements for Weaver Company follow: Durlng this year, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulated depreclation of $10. In addition, the company sold long-term investments for $13 that had cost $6 when purchased several years ago. Weaver pald a cash dividend this year and the company repurchased $40 of its own stock. This year Weaver did not retire any bonds. Required: 1. Using the indirect method, determine the net cash provided by/used in operating activitles for this year. (List any deductlon in cash and cash outflows as negative amounts.) 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.)
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