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Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash $ -22 $ 12 Accounts receivable 335 228 Inventory 151 194

Weaver Company Comparative Balance Sheet at December 31
This Year Last Year
Assets
Cash $ -22 $ 12
Accounts receivable 335 228
Inventory 151 194
Prepaid expenses 9 6
Total current assets 473 440
Property, plant, and equipment 513 434
Less accumulated depreciation 82 70
Net property, plant, and equipment 431 364
Long-term investments 26 33
Total assets $ 930 $ 837
Liabilities and Stockholders' Equity
Accounts payable $ 305 $ 225
Accrued liabilities 72 79
Income taxes payable 73 65
Total current liabilities 450 369
Bonds payable 199 171
Total liabilities 649 540
Common stock 162 202
Retained earnings 119 95
Total stockholders equity 281 297
Total liabilities and stockholders' equity $ 930 $ 837
Weaver Company Income Statement For This Year Ended December 31
Sales $ 752
Cost of goods sold 446
Gross margin 306
Selling and administrative expenses 221
Net operating income 85
Nonoperating items:
Gain on sale of investments $ 5
Loss on sale of equipment (3) 2
Income before taxes 87
Income taxes 23
Net income $ 64

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 $12 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.

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.)

image text in transcribed Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Binancing activities: & & & \\ \hline \end{tabular}

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