URGENT URGENT

pt. 1

pt. 2

Problem 15-7 (Algo) Prepare a Statement of Cash Flows (LO15-1, LO15-2] [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 $ 22 294 153 9 478 510 (81) 429 28 $ 935 $ 12 229 194 6 441 431 (72) 359 34 $834 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Lens 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 liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 302 73 72 447 197 644 164 127 291 $ 935 $225 80 64 369 172 541 201 92 293 $834 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 164 127 291 $935 201 92 293 $834 $ 754 Weaver Company Income statement Tor This Year Tinded December 31 Salon Coat of goods sold Gross margin selling and administrative expenses Net operating income Nonoperating items Gain on sale of investments 67 Loss on sale of equipment Income before taken Income taxe Net Income 308 219 89 6 95 23 $ 72 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 $13 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $37 of its own stock. This year Weaver did not retire any bonds Problem 15-7 Part 1 (Algo) 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 0 $ 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 Flow For This Year Ended December 31 Operating activities: Investing activities 0 Financing activities 0 0 Beginning cash and cash equivalents 8 58