Saved Help Se 4 Comparative financial statements for Weaver Company follow: Part 2 of 2 Weaver Company Comparative Balance Sheet at December 31 This Year Last Year 2.5 points 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 $ 2 294 153 9 463 513 (81 432 26 $ 921 $ 12 230 194 5 441 434 T72) 362 32 $835 eBook Print $ 301 72 72 445 198 643 References $226 79 64 369 170 539 202 94 296 $835 162 116 278 $921 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 Loss on sale of equipment Income before taxes Income taxes $ 755 450 305 221 84 $ 6 (3) 87 25 Check 4 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 162 116 278 $ 921 202 94 296 $835 Part 2 of 2 2.5 points 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 Loss on sale of equipment Income before taxes Income taxes Net income $ 755 450 3e5 221 84 eBook $6 (3 Print 25 $ 62 References 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 $40 of its own stock. This year Weaver did not retire any bonds 2. Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash for this year. (List any deduction in cash and cash outflows os negative amounts.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities Investing activities Net Income $ 62 Part 2 of 2 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 $40 of its own stock. This year Weaver did not retire any bonds 25 Doints 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.) eBook Weaver Company Statement of Cash Flows For This Year Ended December 31 Print Operating activities References Investing activities Financing activities Beginning cash and cash equivalents Ending cash and cash equivalents M Graw WHI
