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 $ 21 290 151 8 470 508 (82) 426 27 $ 923 $ 12 228 195 5 440 428 (71) 357 34 $831 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 302 70 74 446 200 646 160 117 277 $ 923 $226 78 64 368 171 539 200 92 292 $831 Weaver Company Income Statement Tor This Year Ended December 31 Sales Cost of goods sold Gros margin Selling and administrative expenses Net operating income Nonoperating items Gain on sale of investments #6 Los on sale of equipment (2) Income before taxes Income taxes Net income $754 450 304 219 es 4 89 24 $ 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 $13 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 Flows Indirect Method (partial) Net Income $ 65 Depreciation Loss on sale of equipment Gain on sale of investments Increase in accounts receivable Decrease in inventory Increase in prepaid expenses Increase in accounts payable Decrease in accrued liabilities Increase in income taxes payable 0 65 $