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	$	11			$	13
Accounts receivable		307				231
Inventory		160				195
Prepaid expenses		8				6
Total current assets		486				445
Property, plant, and equipment		504				425
Less accumulated depreciation		(86	)			(71	)
Net property, plant, and equipment		418				354
Long-term investments		25				32
Total assets	$	929			$	831
Liabilities and Stockholders' Equity
Accounts payable	$	304			$	224
Accrued liabilities		72				77
Income taxes payable		73				63
Total current liabilities		449				364
Bonds payable		197				171
Total liabilities		646				535
Common stock		162				201
Retained earnings		121				95
Total stockholders equity		283				296
Total liabilities and stockholders' equity	$	929			$	831

Weaver Company Income Statement For This Year Ended December 31
Sales					$	752
Cost of goods sold						446
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		(1	)			5
Income before taxes						89
Income taxes						24
Net income					$	65

During this year, Weaver sold some equipment for $19 that had cost $30 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 $39 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.

Part 2:

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	$	11			$	13
Accounts receivable		307				231
Inventory		160				195
Prepaid expenses		8				6
Total current assets		486				445
Property, plant, and equipment		504				425
Less accumulated depreciation		(86	)			(71	)
Net property, plant, and equipment		418				354
Long-term investments		25				32
Total assets	$	929			$	831
Liabilities and Stockholders' Equity
Accounts payable	$	304			$	224
Accrued liabilities		72				77
Income taxes payable		73				63
Total current liabilities		449				364
Bonds payable		197				171
Total liabilities		646				535
Common stock		162				201
Retained earnings		121				95
Total stockholders equity		283				296
Total liabilities and stockholders' equity	$	929			$	831

Weaver Company Income Statement For This Year Ended December 31
Sales					$	752
Cost of goods sold						446
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		(1	)			5
Income before taxes						89
Income taxes						24
Net income					$	65

During this year, Weaver sold some equipment for $19 that had cost $30 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 $39 of its own stock. This year Weaver did not retire any bonds.

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.)

Weaver Company Statement of Cash Flows-Indirect Method (partial) 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