gnment Saved Comparative financial statements for Weaver Company follow Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term inves tments Total assets Liabilities and Stockholders Equity Accounts payable Accrued tiabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity $ 340 125 $ 15 240 9 175 18 436 484 610 478 85 93 517 385 16 19 $1,017 $ 840 $ 318 60 $ 230 72 34 40 410 336 290 180 700 516 210 250 107 74 317 324 Total liabilities and stockholders' equity $1,017 $ 840 Weaver Company Income Statement For This Year Ended December 31 Sales $800 500 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 300 213 87 $ 7 (4) 3 90 27 Prev During this year, Weaver sold some equipment for $20 that had cost $40 and on which there was accumulated depreciation of $16. In addition, the company sold long-term investments for $10 that had cost $3 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 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.) pe 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 0 Prev 2 Next > E Jo Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Gross margin Selling and admin istrative expenses Net operating income Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes $800 500 300 213 87 $ 7 (4) 90 27 Net income $63 During this year, Weaver sold some equipment for $20 that had cost $40 and or depreciation of $16. In addition, the company sold long-term investments for $10 years ago. Weaver paid a cash dividend this year and the company repurchased did not retire any bonds. 2. Using the information in (1) above, along with an analysis of the remaining balance sh 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: