PROBLEM 13-7 Prepare a Statement of Cash Flows LO13-1, L013-2 Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 9 340 125 10 $ 15 240 175 6 436 484 610 93 470 85 385 19 517 16 $1,017 $840 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. $ 310 60 40 $230 72 34 410 290 336 180 700 516 210 250 74 107 317 324 $840 $1,017 Statement of Cash Flows Weaver Company Income Statement For 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 $800 500 300 213 87 . $7 (4) 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 $10 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 flows for this year