Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 16 290 151 1 9 466 507 (81) 426 27 $ 919 $ 11 231 195 5 442 429 (72) 357 33 $ 832 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 $ 302 71 75 448 195 643 160 116 276 $ 919 $ 225 79 63 367 170 537 202 93 295 $ 832 448 83 Weaver Company Income Statement For This Year Ended December 31 Sales $ 754 Cost of goods sold Gross margin 306 Selling and administrative expenses 223 Net operating income Nonoperating items: Gain on sale of investments $ 6 Loss on sale of equipment Income before taxes Income taxes 23 Net income $ 65 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 $12 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $42 of its own stock. This year Weaver did not retire any bonds. 5 88 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)