of 2 Required Information [The following information applies to the questions displayed below.] Comparative financial statements...

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of 2 Required Information [The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 ook nt ences Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities 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 This Year Last Year $ -29 $11 336 230 153 194 9 5 469 440 511 432 83 72 428 360 26 32 $ 923 $ 832 $ 301 $ 224 73 77 72 64 446 365 196 170 642 535 162 201 119 96 281 297 $ 923 $ 832 $ 752 449 303 221 82 $ 6 (2) 86 24 $ 62 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 $39 of its own stock but did not retire any bonds. Required: 1. Using the indirect method, determine the net cash provided by/used in operating activities for this year Note: Cash outflows and amounts to be deducted should be Indicated with a minus sign. Weaver Company of 2 Required Information [The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 ook nt ences Assets Cash and cash equivalents Accounts receivable Inventory Prepaid expenses Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities 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 This Year Last Year $ -29 $11 336 230 153 194 9 5 469 440 511 432 83 72 428 360 26 32 $ 923 $ 832 $ 301 $ 224 73 77 72 64 446 365 196 170 642 535 162 201 119 96 281 297 $ 923 $ 832 $ 752 449 303 221 82 $ 6 (2) 86 24 $ 62 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 $39 of its own stock but did not retire any bonds. Required: 1. Using the indirect method, determine the net cash provided by/used in operating activities for this year Note: Cash outflows and amounts to be deducted should be Indicated with a minus sign. Weaver Company