Required information

[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	$	4			$	12
Accounts receivable		297				228
Inventory		158				196
Prepaid expenses		8				5
Total current assets		467				441
Property, plant, and equipment		514				434
Less accumulated depreciation		(85	)			(72	)
Net property, plant, and equipment		429				362
Long-term investments		28				35
Total assets	$	924			$	838
Liabilities and Stockholders' Equity
Accounts payable	$	302			$	225
Accrued liabilities		73				79
Income taxes payable		73				64
Total current liabilities		448				368
Bonds payable		196				172
Total liabilities		644				540
Common stock		162				202
Retained earnings		118				96
Total stockholders equity		280				298
Total liabilities and stockholders' equity	$	924			$	838

Weaver Company Income Statement For This Year Ended December 31
Sales					$	752
Cost of goods sold						449
Gross margin						303
Selling and administrative expenses						219
Net operating income						84
Nonoperating items:
Gain on sale of investments	$	5
Loss on sale of equipment		(3	)			2
Income before taxes						86
Income taxes						24
Net income					$	62

During this year, Weaver sold some equipment for $18 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 $40 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.)

2. Using the information in (1) above, 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.)