es 20 play Last Year Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Assets Cash $ 19 Accounts receivable 294 Inventory 151 Prepaid expenses 9 Total current assets 473 Property, plant, and equipment 507 Less accumulated depreciation (82) Net property, plant, and equipment 425 Long-term investments 27 Total assets $ 925 Liabilities and Stockholders' Equity Accounts payable $ 391 Accrued liabilities 70 Income taxes payable 74 Total current liabilities 445 Bonds payable 199 Total liabilities 644 Common stock 161 Retained earnings 120 Total stockholders' equity 281 Total liabilities and stockholders' equity $ 925 $ 11 228 195 5 439 429 (70) 359 33 $831 $224 88 63 367 178 537 200 94 294 $831 Weaver Company Income Statement For This Year Ended December 31 Sales 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 $ 753 448 385 220 85 $6 (3) | | $ 65 During this year, Weaver sold some equipment for $18 that had cost $31 and on which there was accumulated depreciation of $10. In addition, the company sold long-term Investments for $12 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $39 of its own stock. This year Weaver did not retire any bonds. Problem 15-7 Part 1 (Algo) Required: 1. Using the Indirect method, determine the net cash provided by used in operating activities for this year. (List any deduction In cash and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Method (partial) 0 $ 0 Problem 15-7 Part 2 (Algo) 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 0 Financing activities 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents S