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please help with part 1 AND 2!!! Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last
please help with part 1 AND 2!!!
Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 20 294 152 8 474 511 (82) 429 24 $ 927 $ 11 230 196 5 442 432 (72) 360 30 $832 Assets Cash 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 $ 301 72 74 447 199 646 163 118 281 $ 224 78 65 367 171 538 201 93 294 $832 $ 927 $751 Weaver Company Income Statement Por 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 447 304 222 B2 5 87 24 During this year, 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 $12 that had cost $6 when purchased several years ago. Weaver pald a cash dividend this year and the company repurchased $38 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 $ 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 on and cash equivalents Ending cash and cash equivalents $ 0 Step by Step Solution
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