During this year, Weaver sold some equipment for $$18$ ?that had cost $$31$ ?and on which there was accumulated depreciation of $$10.$ ?In addition, the company sold long$-$term investments for $$13$ ?that had cost $$7$ ?when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $$36$ ?of its own stock. This year Weaver did not retire any bonds.$\mathrm{}\mathrm{}\mathrm{}$$\mathrm{}$$$$\mathrm{}$?

Using the information $,$ ?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.$)$

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Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets. Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments $ -21 $ 12 335 231 153 195 9 6 476 444 510 432 82 71 428 361 24 31 Total assets $ 928 $ 836 Liabilities and Stockholders' Equity Accounts payable $ 301 $ 224 Accrued liabilities 71 79 Income taxes payable 74 65 Total current liabilities 446 368 Bonds payable 196 170 Total liabilities 642 538 Common stock 165 201 Retained earnings 121 97 Total stockholders' equity 286 298 Total liabilities and stockholders' equity $ 928 $ 836 Weaver Company Income Statement For This Year Ended December 31 Sales $ 752 Cost of goods sold 450 Gross margin 302 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 221 81 $ 6 (3) 3 84 24 $ 60 Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash Accounts receivable Inventory Prepaid expenses Total current assets. Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments $ -21 $ 12 335 231 153 195 9 6 476 444 510 432 82 71 428 361 24 31 Total assets $ 928 $ 836 Liabilities and Stockholders' Equity Accounts payable $ 301 $ 224 Accrued liabilities 71 79 Income taxes payable 74 65 Total current liabilities 446 368 Bonds payable 196 170 Total liabilities 642 538 Common stock 165 201 Retained earnings 121 97 Total stockholders' equity 286 298 Total liabilities and stockholders' equity $ 928 $ 836 Weaver Company Income Statement For This Year Ended December 31 Sales $ 752 Cost of goods sold 450 Gross margin 302 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 221 81 $ 6 (3) 3 84 24 $ 60

Answer rating: 100% (QA)

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