QuesX n.com -k Last Year Cash $ 15 240 175 Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Assets 9 Accounts receivable 340 Inventory 125 Prepaid expenses 10 Total current assets 484 Property, plant, and equipment 610 Less accumulated depreciation 93 Net property, plant, and equipment 517 Long-term investments 16 Total assets $1,017 Liabilities and Stockholders' Equity Accounts payable $ 310 Accrued liabilities 50 Income taxes payable 40 Total current liabilities 420 Bonds payable 290 Total liabilities 700 Common stock 210 Retained earnings 107 Total stockholders' equity 317 Total liabilities and stockholders equity $1,017 436 470 85 385 19 $ 840 $ 230 72 34 336 180 516 250 74 324 5 840 FINOX Mne x QuesX Wund X We ucation.com mework Weaver Company Incon 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 57 Loss on sale of equipment Income before taxes Income taxes Net income 5100 500 300 213 87 3 30 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 purcha years ago. Weaver paid a cash dividend this year and the company repurchased $40 of its own stock. This year did not retire any bonds. Required: 1 Using the indirect method, determine the net cash provided by used in operating activities for this year. (List any de outflows as negative amounts.) Required: 1. Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cash outflows as negative amounts.) $ 63 Weaver Company Statement of Cash Flows Indirect Method (partial) Net income Adjustments to convert net income to a cash basis: Depreciation Gain on sale of investments Loss on sale of equipment Increase in accounts receivable Decrease in inventory Increase in prepaid expenses Increase in accounts payable Decrease in accrued liabilities locrouse in income taxes payable 0 5 et cash provided by operating activities Prox 78 of 9 Next >