Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ $ 12 230 195 20 300 160 B 488 506 (85) 421 442 428 (70) 358 26 33 $ 935 $833 Assets Cash and cash equivalents 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 $225 $ 304 71 74 65 369 449 195 644 165 126 200 291 $ 935 294 $833 $ 754 445 309 221 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 $ 5 (1) 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 $7 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $35 of its own stock. This year Weaver did not retire any bonds. Problem 13-7 Part 1 Required: Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cash nd cash outflows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Method (partial)