Tents Home Connect Seved Year Required Information Problem 14-7 Prepare a Statement of Cash Flows (L014-1, LC14-2] [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 Last Year Assets Cash $ 17 $ 12 Accounts receivable 293 230 Inventory 155 194 Prepaid expenses 6 Total current assets 442 Property, plant, and equipment 506 427 Less accumulated depreciation (81) (71) Net property, plant, and equipment 425 356 Long-term investments 28 34 Total assets $ 926 $832 Liabilities and Stockholders' Equity Accounts payable $ 303 $225 Accrued liabilities 72 78 Income taxes payable 72 63 Total current liabilities 447 366 Bonds payable 199 172 Total liabilities 530 Common stock 161 201 Retained earnings 119 Total stockholders' equity 280 294 Total liabilities and stockholders' equity $ 926 $832 B 473 Weaver Company Income Statement For This Year Ended December 31 Saved 8 473 506 (81) 425 28 $ 926 6 442 427 (71) 356 34 $832 Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total asset Liabilities and Stockholders' Equity Accounts payable Norued liabilities Income taxes payable Total current liabilities Ronds payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 303 72 72 447 199 646 161 119 280 $ 926 $225 78 63 366 172 538 201 93 294 $832 Weaver Company Income Statement Por This Year Ended December 31 Sales Coat of goods sold Gross margin Selling and administrative expenses Het operating Incone Nonoperating items Gain on sale of investments S 7 Loss on sale of equipment 1 Income before taxes Income taxe Net Income $752 467 305 220 85 6 91 25 $66 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 $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. Seved Help Problem 14-7 Part 2 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 Financing activities Beginning cash and cash equivalents Ending cash and cash equivalents MacBook R D