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	$	5			$	13
Accounts receivable		308				230
Inventory		156				196
Prepaid expenses		9				6
Total current assets		478				445
Property, plant, and equipment		505				426
Less accumulated depreciation		(85)				(72)
Net property, plant, and equipment		420				354
Long-term investments		26				32
Total assets	$	924			$	831
Liabilities and Stockholders' Equity
Accounts payable	$	304			$	224
Accrued liabilities		70				77
Income taxes payable		74				64
Total current liabilities		448				365
Bonds payable		196				171
Total liabilities		644				536
Common stock		160				200
Retained earnings		120				95
Total stockholders equity		280				295
Total liabilities and stockholders' equity	$	924			$	831

Weaver Company Income Statement For This Year Ended December 31
Sales					$	753
Cost of goods sold						450
Gross margin						303
Selling and administrative expenses						219
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 $40 of its own stock. This year Weaver did not retire any bonds.

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.)