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Required information Skip to question [ The following information applies to the questions displayed below. ] Comparative financial statements for Weaver Company follow: Weaver Company

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[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
Assets
Cash and cash equivalents $ -23 $ 12
Accounts receivable 332231
Inventory 152195
Prepaid expenses 95
Total current assets 470443
Property, plant, and equipment 505426
Less accumulated depreciation 8170
Net property, plant, and equipment 424356
Long-term investments 2935
Total assets $ 923 $ 834
Liabilities and Stockholders' Equity
Accounts payable $ 302 $ 224
Accrued liabilities 7180
Income taxes payable 7364
Total current liabilities 446368
Bonds payable 199172
Total liabilities 645540
Common stock 161201
Retained earnings 11793
Total stockholders equity 278294
Total liabilities and stockholders' equity $ 923 $ 834
Weaver Company
Income Statement
For This Year Ended December 31
Sales $ 750
Cost of goods sold 448
Gross margin 302
Selling and administrative expenses 219
Net operating income 83
Nonoperating items:
Gain on sale of investments $ 6
Loss on sale of equipment (2)4
Income before taxes 87
Income taxes 23
Net income $ 64
During this year, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $12 that had cost $6 when purchased several years ago. Weaver paid a cash dividend and repurchased $40 of its own stock but did not retire any bonds.
2. Prepare a statement of cash flows for this year.
Note: Cash outflows and amounts to be deducted should be indicated with a minus sign

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