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The following information applies to the questions displayed below. ] Comparative financial statements for Weaver Company follow: Weaver CompanyComparative Balance Sheetat December 3 1 This

The following information applies to the questions displayed below.]Comparative financial statements for Weaver Company follow:Weaver CompanyComparative Balance Sheetat December 31This YearLast YearAssetsCash$ -35$ 12Accounts receivable339229Inventory151194Prepaid expenses86Total current assets463441Property, plant, and equipment513435Less accumulated depreciation8371Net property, plant, and equipment430364Long-term investments2431Total assets$ 917$ 836Liabilities and Stockholders' EquityAccounts payable$ 303$ 225Accrued liabilities7179Income taxes payable7265Total current liabilities446369Bonds payable197172Total liabilities643541Common stock160200Retained earnings11495Total stockholders equity274295Total liabilities and stockholders' equity$ 917$ 836Weaver CompanyIncome StatementFor This Year Ended December 31Sales$ 753Cost of goods sold449Gross margin304Selling and administrative expenses223Net operating income81Nonoperating items:Gain on sale of investments$ 5Loss on sale of equipment(2)3Income before taxes84Income taxes25Net income$ 59During this year, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $12 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.)

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