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Required information Problem 14-7 Prepare a Statement of Cash Flows (LO14-1, L014-2] [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 HE $ 21 293 156 8 12 231 195 6 444 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 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities 478 506 (81) 425 25 427 (71) 356 h 31 $831 $ 928 $ 305 72 $224 78 $ 928 $831 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 $ 305 72 74 451 199 650 161 117 278 $ 928 $224 78 65 367 170 537 200 94 294 $831 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 $ 751 448 303 221 82 $ 6 (3) ma 3 85 23 $ 62 Net income BE Mail Jaeger, Victoria - Outlook education.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flakeland blackboard.com%252Fwebapps%252Fblackboard Tube Maps Untitled document 2 Online Courses fro... Lakeland Email + Becker CPA Blackboard Learn my lakeland NCPA Exam Registrati... Saved Help Sa #14: Homework k my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not ind 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 $12 that ha 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 14-7 Part 2 2. Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepa cash flows for this year. (List any deduction in cash and cash outflows as negative amounts.) Answer is not complete. Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Net cash provided by operating activities Investing activities: 62 X ........ - 2. Using the information from Part 1, along with an analysis of the remaining balance s cash flows for this year. (List any deduction in cash and cash outflows as negative a Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: 0 Financing activities: 0 S ratinantisition ! Required information HIVESuriy ALLIVILIES. 0 Financing activities: O 0 Beginning cash and cash equivalents Ending cash and cash equivalents 0 ! Required information Problem 14-7 Prepare a Statement of Cash Flows (LO14-1, L014-2] [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 HE $ 21 293 156 8 12 231 195 6 444 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 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities 478 506 (81) 425 25 427 (71) 356 h 31 $831 $ 928 $ 305 72 $224 78 $ 928 $831 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 $ 305 72 74 451 199 650 161 117 278 $ 928 $224 78 65 367 170 537 200 94 294 $831 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 $ 751 448 303 221 82 $ 6 (3) ma 3 85 23 $ 62 Net income BE Mail Jaeger, Victoria - Outlook education.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flakeland blackboard.com%252Fwebapps%252Fblackboard Tube Maps Untitled document 2 Online Courses fro... Lakeland Email + Becker CPA Blackboard Learn my lakeland NCPA Exam Registrati... Saved Help Sa #14: Homework k my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not ind 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 $12 that ha 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 14-7 Part 2 2. Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepa cash flows for this year. (List any deduction in cash and cash outflows as negative amounts.) Answer is not complete. Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Net cash provided by operating activities Investing activities: 62 X ........ - 2. Using the information from Part 1, along with an analysis of the remaining balance s cash flows for this year. (List any deduction in cash and cash outflows as negative a Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: 0 Financing activities: 0 S ratinantisition ! Required information HIVESuriy ALLIVILIES. 0 Financing activities: O 0 Beginning cash and cash equivalents Ending cash and cash equivalents 0