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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 and cash equivalents $ 4 $ 11
Accounts receivable 294 229
Inventory 158 194
Prepaid expenses 8 6
Total current assets 464 440
Property, plant, and equipment 512 432
Less accumulated depreciation (82 ) (71 )
Net property, plant, and equipment 430 361
Long-term investments 27 34
Total assets $ 921 $ 835
Liabilities and Stockholders' Equity
Accounts payable $ 300 $ 225
Accrued liabilities 72 80
Income taxes payable 74 63
Total current liabilities 446 368
Bonds payable 197 171
Total liabilities 643 539
Common stock 161 201
Retained earnings 117 95
Total stockholders equity 278 296
Total liabilities and stockholders' equity $ 921 $ 835

Weaver Company Income Statement For This Year Ended December 31
Sales $ 752
Cost of goods sold 450
Gross margin 302
Selling and administrative expenses 220
Net operating income 82
Nonoperating items:
Gain on sale of investments $ 6
Loss on sale of equipment (2 ) 4
Income before taxes 86
Income taxes 24
Net income $ 62

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 $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.

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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