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Need help please. Problem 12-7A Prepare a Statement of Cash Flows [LO12-1, LO12-2] [The following information applies to the questions displayed below.] Comparative financial statements

Need help please.

Problem 12-7A Prepare a Statement of Cash Flows [LO12-1, LO12-2]

[The following information applies to the questions displayed below.]

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet December 31, 2015 and 2014
2015 2014
Assets
Cash $ 7 $ 11
Accounts receivable 308 230
Inventory 160 194
Prepaid expenses 9 5
Total current assets 484 440
Property, plant, and equipment 514 434
Less accumulated depreciation (85) (71)
Net property, plant, and equipment 429 363
Long-term investments 23 30
Total assets $ 936 $ 833
Liabilities and Stockholders' Equity
Accounts payable $ 301 $ 225
Accrued liabilities 72 79
Income taxes payable 74 64
Total current liabilities 447 368
Bonds payable 197 170
Total liabilities 644 538
Common stock 165 202
Retained earnings 127 93
Total stockholders equity 292 295
Total liabilities and stockholders' equity $ 936 $ 833

Weaver Company Income Statement For the Year Ended December 31, 2015
Sales $ 754
Cost of goods sold 446
Gross margin 308
Selling and administrative expenses 218

Net operating income 90
Nonoperating items:
Gain on sale of investments $ 6
Loss on sale of equipment (1) 5

Income before taxes 95
Income taxes 24
Net income $ 71

During 2015, 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. A cash dividend was paid during 2015 and the company repurchased $37 of its own stock. Weaver did not retire any bonds during 2015.

Part 1

Required:
1.

Using the indirect method, determine the net cash provided by/used by operating activities for 2015. (Negative amount should be entered with a minus sign.)

Part 2

2.

Using the information in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for 2015. (List any deduction in cash and cash outflows as negative amounts.)

Weaver Company
Statement of Cash Flows - Indirect Method
For This Year Ended December 31, 2015
Operating activities:
Adjustments to convert net income to cash basis:
Investing activities:
Financing activities:
Beginning cash and cash equivalents
Ending cash and cash equivalents

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