Required:

1. Using the indirect method, determine the net cash provided by/used in operating activities for this year. (List any deduction in cash and cash outflows as negative amounts.)

Comparative financial statements for Weaver Company follow: 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 307 158 12 230 195 Less accumulated depreciation Net property, plant, and equipment Long-term investments Total assets 480 504 86 418 26 443 426 7 1 355 32 $830 $924 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 $ 305 71 7 3 449 195 644 163 $225 79 63 367 170 537 201 92 293 280 Total liabilities and stockholders' equity $924 $830