Problem 14-7 Prepare a Statement of Cash Flows [LO14-1, L014-2] [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 Last Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment $ 12 229 195 6 442 432 72 360 32 308 158 Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets 481 512 86 426 25 32$834 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 1iabilities and stockholders' equity $ 301 72 75 448 196 644 163 125 288 $ 932 $224 79 64 367 170 537 201 96 297 $834 Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating incom Nonoperating items: 751 445 306 84 Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income 89 $ 67 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 $13 that had cost $7 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