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	$	14			$	13
Accounts receivable		306				230
Inventory		157				196
Prepaid expenses		9				6
Total current assets		486				445
Property, plant, and equipment		502				423
Less accumulated depreciation		(86	)			(72	)
Net property, plant, and equipment		416				351
Long-term investments		28				34
Total assets	$	930			$	830
Liabilities and Stockholders' Equity
Accounts payable	$	303			$	224
Accrued liabilities		73				78
Income taxes payable		74				65
Total current liabilities		450				367
Bonds payable		197				171
Total liabilities		647				538
Common stock		164				200
Retained earnings		119				92
Total stockholders equity		283				292
Total liabilities and stockholders' equity	$	930			$	830

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		(3	)			3
Income before taxes						87
Income taxes						24
Net income					$	63

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 $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $36 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.)

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: Financing activities: Beginning cash and cash equivalents Ending cash and cash equivalents $ 0