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Problem $13-7($Algo$)$ Prepare a Statement of Cash Flows $[$LO$13-1,$ LO$13-2]$

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$[$The following information applies to the questions displayed below.$]$

Comparative financial statements for Weaver Company follow:

Weaver Company

Comparative Balance Sheet

at December $31$

This Year Last Year

Assets

Cash $ $-13$ $ $13$

Accounts receivable $335228$

Inventory $150196$

Prepaid expenses $95$

Total current assets $481442$

Property, plant, and equipment $508429$

Less accumulated depreciation $8170$

Net property, plant, and equipment $427359$

Long$-$term investments $2733$

Total assets $ $935$ $ $834$

Liabilities and Stockholders' Equity

Accounts payable $ $305$ $ $225$

Accrued liabilities $7278$

Income taxes payable $7363$

Total current liabilities $450366$

Bonds payable $196170$

Total liabilities $646536$

Common stock $162201$

Retained earnings $12797$

Total stockholders$$ equity $289298$

Total liabilities and stockholders' equity $ $935$ $ $834$

Weaver Company

Income Statement

For This Year Ended December $31$

Sales $ $755$

Cost of goods sold $448$

Gross margin $307$

Selling and administrative expenses $221$

Net operating income $86$

Nonoperating items:

Gain on sale of investments $ $7$

Loss on sale of equipment $(2)5$

Income before taxes $91$

Income taxes $22$

Net income $ $69$

During this year, Weaver sold some equipment for $$18$ that had cost $$30$ and on which there was accumulated depreciation of $$10.$ In addition, the company sold long$-$term investments for $$13$ that had cost $$6$ when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $$39$ of its own stock. This year Weaver did not retire any bonds.

Problem $13-7$ Part $1($Algo$)$

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.$)$Requlred Information

Problem $13-7($Algo$)$ Prepare a Statement of Cash Flows $[$LO$13-1,$ L$013-2]$

$[$The following information applies to the questions displayed below.$]$

Comparative financial statements for Weaver Company follow:

During this year, Weaver sold some equipment for $$18$ that had cost $$30$ and on which there was accumulated

depreciation of $$10.$ In addition, the company sold long$-$term investments for $$13$ that had cost $$6$ when purchased several

years ago. Weaver paid a cash dividend this year and the company repurchased $$39$ of its own stock. This year Weaver

did not retire any bonds.

oblem $13-7$ Part $1($Algo$)$

quired:

Jsing the indirect method, determine the net cash provided by$/$used in operating activities for this year. $($LIst ony deducton In cesh

d cash outflows as negatlve amounts.$)$