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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 December 31, 2015 and

[The following information applies to the questions displayed below.]

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet December 31, 2015 and 2014
2015 2014
Assets
Cash $ -3 $ 11
Accounts receivable 307 229
Inventory 159 195
Prepaid expenses 9 5
Total current assets 472 440
Property, plant, and equipment 511 431
Less accumulated depreciation (85) (71)
Net property, plant, and equipment 426 360
Long-term investments 27 33
Total assets $ 925 $ 833
Liabilities and Stockholders' Equity
Accounts payable $ 304 $ 226
Accrued liabilities 71 79
Income taxes payable 74 64
Total current liabilities 449 369
Bonds payable 199 171
Total liabilities 648 540
Common stock 161 201
Retained earnings 116 92
Total stockholders equity 277 293
Total liabilities and stockholders' equity $ 925 $ 833

Weaver Company Income Statement For the Year Ended December 31, 2015
Sales $ 754
Cost of goods sold 448
Gross margin 306
Selling and administrative expenses 222

Net operating income 84
Nonoperating items:
Gain on sale of investments $ 6
Loss on sale of equipment (2) 4

Income before taxes 88
Income taxes 24
Net income $ 64

During 2015, 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. A cash dividend was paid during 2015 and the company repurchased $40 of its own stock. Weaver did not retire any bonds during 2015.

2.

value: 3.00 points

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Required:
1.

Using the indirect method, determine the net cash provided by/used by operating activities for 2015. (Negative amount should be entered with a minus sign.)

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