(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 $ 17 $ 12 Accounts receivable 291 229 Inventary 152 194 Prepaid expenses 8 6 Total current assets 468 441 Property, plant, and equipment 589 438 Less accumulated depreciation () (7) Net property, plant, and equipment 429 360 Long-term investments 25 32 Total assets $ 922 $ 833 Liabilities and Stockholders' Equity Accounts payable $ 302 $ 226 Accrued liabilities 72 79 Income taxes payable 73 65 Total current liabilities 447 370 Bonds payable 197 178 Total liabilities 644 540 Common stock 160 201 118 92 Retained earnings Total stockholders' equity 278 293 Total liabilities and stockholders' equity 5922 $ 833 Weaver Company Weaver Company Income Statement For This Year Ended December 31 Sales 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 $ 753 445 308 222 B6 $ 5 (1) 4 98 23 $ 67 $ During this year, Weaver sold some equipment for $19 that had cost $30 and on which there ws 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 $41 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.) Weaver Company Statement of Cash Flows-Indirect Method (partial) During this year, Weaver sold some equipment for $19 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 $41 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.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities Investing activities 0 Financing activities 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $ 0