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Weaver Company Income Statement For This Year Ended December 31 Sales $752 Cost of goods sold Gross margin Selling and administrative expenses Net operating income
Weaver Company Income Statement For This Year Ended December 31 Sales $752 Cost of goods sold Gross margin Selling and administrative expenses Net operating income Nonoperating items: 449 303 223 80 $ 6 Gain on sale of investments Loss on sale of equipment (3) Income before taxes 83 23 Income taxes $60 Net income 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 $6 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 and cash outflows as negative amounts.) Weaver Company Statement of Cash Flows-Indirect Method (partial) 0 $
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