• AssetsCash $ $-19$ $ $12$Accounts receivable $334230$Inventory $151194$Prepaid expenses $95$Total current assets $475441$Property, plant, and equipment $511431$Less accumulated depreciation $8072$Net property, plant, and equipment $431359$Long$-$term investments $2935$Total assets $ $935$ $ $835$Liabilities and Stockholders' EquityAccounts payable $ $304$ $ $226$Accrued liabilities $7377$Income taxes payable $7564$Total current liabilities $452367$Bonds payable $197172$Total liabilities $649539$Common stock $165201$Retained earnings $12195$Total stockholders$’$ equity $286296$Total liabilities and stockholders' equity $ $935$ $ $835$Weaver CompanyIncome StatementFor This Year Ended December $31$Sales $ $753$Cost of goods sold $449$Gross margin $304$Selling and administrative expenses $223$Net operating income $81$Nonoperating items:Gain on sale of investments $ $6$ Loss on sale of equipment $(3)3$Income before taxes $84$Income taxes $22$Net income $ $62$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 $$6$ when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $$36$ 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 flowsfor this year. $($List any deduction in cash and cash outflows as negative amounts.$)$

  
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2. 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.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Net cash provided by operating activities Investing activities: Additions to property, plant, and equipment Proceeds from sale of long-term investments Proceeds from sale of equipment Net cash used in investing activities Financing activities: Issuance of bonds payable Repurchase of common stock Cash dividends paid Net cash used in financing activities Net decrease in cash Beginning cash and cash equivalents Ending cash and cash equivalents $ 0 0 0 0 2. 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.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Net cash provided by operating activities Investing activities: Additions to property, plant, and equipment Proceeds from sale of long-term investments Proceeds from sale of equipment Net cash used in investing activities Financing activities: Issuance of bonds payable Repurchase of common stock Cash dividends paid Net cash used in financing activities Net decrease in cash Beginning cash and cash equivalents Ending cash and cash equivalents $ 0 0 0 0

Answer rating: 100% (QA)

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