Comparative financial statements for Weaver Company follow:

During 2009, the company sold some equipment for $20 that had cost $40 and on which there was accumulated depreciation of $16. In addition, the company sold long-term investments for $10 that had cost $3 when purchased several years ago. Cash dividends totaling $30 were paid during 2009.

Required:

1. Using the indirect method, determine the net cash provided by operating activities for 2009.

2. Using the information in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for 2009.

Weaver Company Comparative Balance Sheet December 31, 2009 and 2008 2009 2008 Assets Cash.. 2$ $ 15 Accounts receivable 340 240 Inventory.. Prepaid expenses. Plant and equipment.. Less accumulated depreciation. Long-term investments. Total assets.... 125 175 10 610 470 (93) (85) 19 16 $1,017 $840 Liabilities and Stockholders' Equity Accounts payable . Accrued liabilities $ 310 $230 60 72 290 Bonds payable Deferred income taxes 180 40 34 Common stock 210 250 Retained earnings.. Total liabilities and stockholders' equity.... 107 74 $1,017 $840 Weaver Company Income Statement For the Year Ended December 31, 2009 Sales... $800 Cost of goods sold 500 Gross margin Selling and administrative oxponses. 300 213 Net operating income Nonoperating items: 87 Gain on sale of investments $7 Loss on sale of equipment 4 Income before taxes. 90 Income taxes. 27 Net income $ 63 .....