Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Weaver Company Income Statement...

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Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 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 164 201 120 94 284 295 $ 929 $ 834 $ 753 450 303 220 83 $ 6 (2) 4 87 24 $ 63 During this year, Weaver sold some equipment for $18 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 $6 when purchased several years ago. Weaver paid a cash dividend and repurchased $37 of its own stock but did not retire any bonds. 2. Prepare a statement of cash flows for this year. Note: Cash outflows and amounts to be deducted should be indicated with a minus sign. Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 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 164 201 120 94 284 295 $ 929 $ 834 $ 753 450 303 220 83 $ 6 (2) 4 87 24 $ 63 During this year, Weaver sold some equipment for $18 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 $6 when purchased several years ago. Weaver paid a cash dividend and repurchased $37 of its own stock but did not retire any bonds. 2. Prepare a statement of cash flows for this year. Note: Cash outflows and amounts to be deducted should be indicated with a minus sign.

Answer rating: 100% (QA)

To prepare the statement of cash flows well start with the net income from the income statement and ... View the full answer