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Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ -10 Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets
Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ -10 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 liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 12 332 230 152 195 8 6 482 443 509 430 81 71 428 359 25 32 $ 935 $ 834 $ 301 $ 225 72 79 72 65 445 369 197 172 642 541 164 200 129 93 293 293 $ 935 $ 834 Sales Weaver Company Income Statement For This Year Ended December 311 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 $ 754 446 308 218 90 $ 6 (2) 4 94 22 $ 72 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 $13 that had cost $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $36 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) $ 0
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