Problem 13-7 (Algo) 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 19:27 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 This Year Last Year S-24 $ 11 334 229 152 194 80 6 470 440 505 427 81 71 424 356 29 35 $ 923 $ 831 $ 303 $ 225 71 77 73 64 447 366 199 172 646 538 162 200 115 93 277 293 $ 923 $ 831 Weaver Company Income Statement For This Year Ended December 31 Sales $ 751 Cost of goods sold 450 Gross margin 301 Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments 222 79 $ 6 Loss on sale of equipment (2) Income before taxes Income taxes 83 23 $ 60 Net income During this year, Weaver sold some equipment for $19 that had cost $31 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 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