[The following information applies to the questions displayed below Comparative financial statements for Weaver Company follow: Pert 2 of 2 We aver Company Comparative Balance Sheet at December 31 Last This Year 3.57 Year points Assets S 12 19 Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets 231 295 196 159 6 445 482 425 505 Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments (71) (85) 354 420 26 32 S 928 $831 Total assets Liabilities and Stockholders Equity Accounts payable Accrued 11ab11itles Incone taxes payable Total current 1iabilities Bonds payable Total liabi1ities Comnon stock Retained earnings Total stockholders equity Total liabilities and stockholders equity $226 $ 305 78 71 74 63 367 170 450 197 537 647 160 201 121 93 201 294 $ 928 $531 Weaver Company Income Statement For This Year Ended December 31 Sales $754 Cost of goods sold 446 Weaver Company Income Statement 2 For This Year Ended December 31 $754 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 446 308 219 2 of 2 89 $ 7 ( 3 ) 4 93 Income before taxes 24 Income taxes $ 69 Net income During this year, Weaver sold some equipment for $18 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 $41 of its own stock. This year Weaver did not retire any bonds. 2. Using the information in (1) above, along with an analysis of the remaining balance sheet acco prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows amounts.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: Mc 2 2. Using the information in (1) above, 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 2 of 2 Statement of Cash Flows For This Year Ended December 31 7 nts Operating activities Investing activities 0 Financing activities 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents 0 [The following information applies to the questions displayed below Comparative financial statements for Weaver Company follow: Pert 2 of 2 We aver Company Comparative Balance Sheet at December 31 Last This Year 3.57 Year points Assets S 12 19 Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets 231 295 196 159 6 445 482 425 505 Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments (71) (85) 354 420 26 32 S 928 $831 Total assets Liabilities and Stockholders Equity Accounts payable Accrued 11ab11itles Incone taxes payable Total current 1iabilities Bonds payable Total liabi1ities Comnon stock Retained earnings Total stockholders equity Total liabilities and stockholders equity $226 $ 305 78 71 74 63 367 170 450 197 537 647 160 201 121 93 201 294 $ 928 $531 Weaver Company Income Statement For This Year Ended December 31 Sales $754 Cost of goods sold 446 Weaver Company Income Statement 2 For This Year Ended December 31 $754 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 446 308 219 2 of 2 89 $ 7 ( 3 ) 4 93 Income before taxes 24 Income taxes $ 69 Net income During this year, Weaver sold some equipment for $18 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 $41 of its own stock. This year Weaver did not retire any bonds. 2. Using the information in (1) above, along with an analysis of the remaining balance sheet acco prepare a statement of cash flows for this year. (List any deduction in cash and cash outflows amounts.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: Mc 2 2. Using the information in (1) above, 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 2 of 2 Statement of Cash Flows For This Year Ended December 31 7 nts Operating activities Investing activities 0 Financing activities 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents 0