[The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 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 Liabilities and Stockholders' Equity Total assets 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 This Year Last Year $ -17 335 $ 11 228 152 196 8 5 478 440 505 427 82 70 423 357 27 34 $ 928 $ 831 $ 304 $ 224 70 80 74 63 448 367 198 171 646 538 163 200 119 93 282 293 $ 928 $ 831 Sales Weaver Company Income Statement For This Year Ended December 31 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 $ 752 449 303 220 83 $6 (2) 4 87 24 $ 63 During 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 $13 that had cost $7 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. Problem 13-7 Part 2 (Algo) 2. Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flow 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 0 8 NEY Dengan s Net operating income Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income 83 $6 (2) 4 87 24 $ 63 During 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 $13 that had cost $7 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. Problem 13-7 Part 1 (Algo) 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.) Weaver Company Statement of Cash Flows--Indirect Method (partial) 0 $