Required information 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 This Year Last Year $ 17 293 152 9 471 516 (80) 436 24 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 $ 12 229 195 5 441 437 (72) 365 31 $ 837 $ 931 $ 301 71 72 444 199 643 163 125 288 $ 931 $ 225 79 64 368 171 539 202 96 298 $ 837 Weaver Company Income Statement For This Year Ended December 31 Sales Cont 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 $ 755 445 310 221 89 $ 5 (2) 3 92 24 $ 68 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 $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $39 of its own stock. This year Weaver did not retire any bonds. 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 outfiows as negative amounts.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities Net cash provided by financing activities Investing activities Increase in inventory 0 Financing activities 0 0 Deginning cash and cash equivalents Ending cash and cash equivalent 3 0