Required information Problem 13-7 (Algo) Prepare a statement of Cash Flows [LO13-1, LO13-2] [The following information a

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Required Information Problem 13 7 Algo Prepare A Statement Of Cash Flows Lo13 1 Lo13 2 The Following Information A 1 (66.83 KiB) Viewed 43 times

Required Information Problem 13 7 Algo Prepare A Statement Of Cash Flows Lo13 1 Lo13 2 The Following Information A 2 (17.43 KiB) Viewed 43 times

Required information Problem 13-7 (Algo) Prepare a statement of Cash Flows [LO13-1, LO13-2] [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 $ 11 231 196 $ 29 295 152 8 475 509 (80) 429 25 $ 929 444 429 (72) 357 31 $ 832 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 Income taxes payable Total current liabilities Bonds payable Total liabilities Connon stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 382 72 71 445 197 642 $ 224 77 64 365 172 537 201 94 295 $ 832 162 125 287 $ 929 Weaver Company Income Statement For This Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating inconte Nonoperating items: Gain on sale of investments Loss on sale of equipment Income before taxes Income taxes Net income $ 755 448 387 219 88 1941 $ 7 (1) 6 94 24 $70 During this year. Weaver sold some equipment for $19 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.
2. Using the Information from Part 1, 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.) Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Net cash provided by operating activities Investing activities Gain on sale of equipment Gain on sale of investments 0 Financing activities: 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents 0