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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 Comparative Balance

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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 $ 26 $ 12
Accounts receivable 293 230
Inventory 153 196
Prepaid expenses 8 5
Total current assets 480 443
Property, plant, and equipment 508 429
Less accumulated depreciation (82) (70)
Net property, plant, and equipment 426 359
Long-term investments 28 34
Total assets $ 934 $ 836
Liabilities and Stockholders' Equity
Accounts payable $ 302 $ 224
Accrued liabilities 72 80
Income taxes payable 74 64
Total current liabilities 448 368
Bonds payable 197 172
Total liabilities 645 540
Common stock 165 201
Retained earnings 124 95
Total stockholders equity 289 296
Total liabilities and stockholders' equity $ 934 $ 836

Weaver Company Income Statement For This Year Ended December 31
Sales $ 753
Cost of goods sold 447
Gross margin 306
Selling and administrative expenses 222
Net operating income 84
Nonoperating items:
Gain on sale of investments $ 6
Loss on sale of equipment (2) 4
Income before taxes 88
Income taxes 23
Net income $ 65

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 $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $36 of its own stock. This year Weaver 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 deduction in cash and cash outflows as negative amounts.)

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