Problem 15 7 (Algo) Prepare a Statement of Cash Flows LO15 1, LO15 2 The following information applies to the questions displayed below Comparative financial statements for Weaver Company follow 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 $37 of its own stock This year Weaver did not retire any bonds Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income $75344630721889 Nonoperating items Gain on sale of investments $6 Loss on sale of equipment begin tabular rr (1) 5 hline 94 25 cline 2 3 $69 end tabular Income before taxes Income taxes Net income 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 )

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Problem 15-7 (Algo) Prepare a Statement of Cash Flows [LO15-1, LO15-2] [The following information applies to the questions displayed below.] Comparative financial statements for Weaver

Problem 15-7 (Algo) Prepare a Statement of Cash Flows [LO15-1, LO15-2]

[The following information applies to the questions displayed below.]

Comparative financial statements for Weaver Company follow:

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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 $37 of its own stock. This year Weaver did not retire any bonds.

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Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income $75344630721889 Nonoperating items : Gain on sale of investments $6 Loss on sale of equipment \begin{tabular}{rr} (1) & 5 \\ \hline & 94 \\ & 25 \\ \cline { 2 - 3 } & $69 \end{tabular} Income before taxes Income taxes Net income 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.)