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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

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 $ 12
Accounts receivable 336 231
Inventory 151 195
Prepaid expenses 8 6
Total current assets 481 444
Property, plant, and equipment 511 431
Less accumulated depreciation 81 70
Net property, plant, and equipment 430 361
Long-term investments 25 31
Total assets $ 936 $ 836
Liabilities and Stockholders' Equity
Accounts payable $ 300 $ 225
Accrued liabilities 72 79
Income taxes payable 74 63
Total current liabilities 446 367
Bonds payable 198 171
Total liabilities 644 538
Common stock 165 202
Retained earnings 127 96
Total stockholders equity 292 298
Total liabilities and stockholders' equity $ 936 $ 836

Weaver Company Income Statement For This Year Ended December 31
Sales $ 751
Cost of goods sold 445
Gross margin 306
Selling and administrative expenses 219
Net operating income 87
Nonoperating items:
Gain on sale of investments $ 7
Loss on sale of equipment (2) 5
Income before taxes 92
Income taxes 24
Net income $ 68

During this year, Weaver sold some equipment for $19 that had cost $31 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 $37 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 flows for this year. (List any deduction in cash and cash outflows as negative amounts.)

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