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Please, do it as soon as possible. Thank you very much. Required information Problem 13-7 Prepare a Statement of Cash Flows (LO13-1, LO13-2] (The following
Please, do it as soon as possible. Thank you very much.
Required information Problem 13-7 Prepare a Statement of Cash Flows (LO13-1, LO13-2] (The following information applies to the questions displayed below.) Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 19 $ 11 291 231 158 194 9 5 229 477441 513 (82 (70) ) 431364 26 32 $ 934 $837 Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 305 71 74 450 197 647 162 125 287 $ 934 $ 226 80 63 369 172 541 200 96 296 $837 Weaver Company Income Statement For This Year Ended December 3 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 $ 755 445 310 222 LE 88 $ (2) 92 25 $ 67 During this year, Weaver sold some equipment for $18 that had cost $30 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 $38 of its own stock. This year Weaver did not retire any bonds. Problem 13-7 Part 2 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: RE 0 Financing activities: 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0Step by Step Solution
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