Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 27 292 152 8 479 504 (81) 423 25 $ 927 $ 12 229 196 6 443 426 (70) 356 32 $831 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders. Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total Habilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 301 72 75 448 196 644 162 121 283 $ 927 $224 78 63 365 170 535 201 95 296 $831 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 incone $754 448 306 221 85 $ 5 (2) 3 88 23 $ 65 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 $12 that had cost $7 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. (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 Beginning cash and cash equivalents Ending cash and cash equivalents 0 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) 0 5 0