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Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Property, plant,
Weaver Company Comparative Balance Sheet at December 31 This Year Last Year 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 $ 13 $ 13 293 228 153 196 B 6 467 443 508 429 (81) (72) 427 357 27 34 $ 921 $ 834 Liabilities and Stockholders' Equity Accounts payable $ 302 $ 225 Accrued liabilities 70 78 Income taxes payable 73 65 Total current liabilities 445 368 Bonds payable 199 172 Total liabilities 644 540 Common stock 161 201 Retained earnings 116 93 Total stockholders' equity 277 294 Total liabilities and stockholders' equity $ 921 $ 834 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 income $ 751 449 302 218 84 $ 6 (3) 3 87 24 $ 63 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 $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $40 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
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