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 $ 15 $ 12 Accounts receivable 290 229 Inventory 159 195 Prepaid expenses 8 5 Total current assets 472 Property, plant, and equipment 507 Less accumulated depreciation Net property, plant, and equipment 425 Long-term investments Total assets Liabilities and Stockholders' $924 Equity Accounts payable $303 $226 Accrued liabilities 72 80 Income taxes payable 72 63 Total current liabilities 447 369 Bonds payable 195 170 Total liabilities 642 539 Common stock 162 202 Retained earnings 120 93 Total stockholders' equity 282 295 Total liabilities and $924 $834 stockholders' equity 441 429 (82) (70) 359 27 34 $834 Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: Gain on sale of investments $ 5 Loss on sale of equipment Income before taxes Income taxes Net income $754 447 307 220 87 (2) 3 90 23 $ 67 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 $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.) Weaver Company Statement of Cash FlowsIndirect Method (partial) 0 $ 0 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 outflows as negative amounts.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: 0 Financing activities: 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0