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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 $ 25 $ 11
Accounts receivable 291 230
Inventory 151 194
Prepaid expenses 8 5
Total current assets 475 440
Property, plant, and equipment 510 431
Less accumulated depreciation (83) (70)
Net property, plant, and equipment 427 361
Long-term investments 28 34
Total assets $ 930 $ 835
Liabilities and Stockholders' Equity
Accounts payable $ 302 $ 226
Accrued liabilities 72 79
Income taxes payable 71 63
Total current liabilities 445 368
Bonds payable 200 171
Total liabilities 645 539
Common stock 163 202
Retained earnings 122 94
Total stockholders equity 285 296
Total liabilities and stockholders' equity $ 930 $ 835

Weaver Company Income Statement For This Year Ended December 31
Sales $ 754
Cost of goods sold 448
Gross margin 306
Selling and administrative expenses 220
Net operating income 86
Nonoperating items:
Gain on sale of investments $ 6
Loss on sale of equipment (2) 4
Income before taxes 90
Income taxes 23
Net income $ 67

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 $12 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $39 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.

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