Page 714 Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Grols margin Selling and administrative expenses Net operating income Nonoperating items Gain on sale of investments $7 Loss on sale of equipment (4) Income before taxes Income taxes Net income $800 500 300 213 87 3 90 27 $ 63 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 S10 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. Required: 1. Using the indirect method, determine the net cash provided by operating activities for this year. 2. Using the information in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash llows for this year. - 610 Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash and cash equivalents $ 9 $ 15 Accounts receivable 340 240 Inventory 125 175 Prepaid expenses 10 6 Total current assets 484 436 Property, plant, and equipment 470 Less accumulated depreciation 93 85 Net property, plant, and equipment 517 385 Long-term investments 16 19 Total assets $1,017 $840 Liabilities and Stocktlolders' Equity Accounts payable $ 310 $230 Accrued liabilities 60 72 Income taxes payable 40 34 Total current liabilities 410 336 Bonds payable 290 180 Total liabilities 700 516 Common stock 250 74 Retained earnings . 107 Total stockholders' equity 324 Total liabilities and stockholders' equity $1,017 $840 210 317