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Comparative financial statements for Weaver Company follow:

Weaver Company
Comparative Balance Sheet
at December 31
This Year Last Year
Assets
Cash $ 2 $ 12
Accounts receivable 308 230
Inventory 157 194
Prepaid expenses 9 5
Total current assets 476 441
Property, plant, and equipment 514 436
Less accumulated depreciation (86 ) (72 )
Net property, plant, and equipment 428 364
Long-term investments 26 32
Total assets $ 930 $ 837
Liabilities and Stockholders' Equity
Accounts payable $ 302 $ 225
Accrued liabilities 73 77
Income taxes payable 71 65
Total current liabilities 446 367
Bonds payable 195 172
Total liabilities 641 539
Common stock 162 201
Retained earnings 127 97
Total stockholders’ equity 289 298
Total liabilities and stockholders' equity $ 930 $ 837
Weaver Company
Income Statement
For This Year Ended December 31
Sales $ 753
Cost of goods sold 445
Gross margin 308
Selling and administrative expenses 222
Net operating income 86
Nonoperating items:
Gain on sale of investments $ 7
Loss on sale of equipment (1 ) 6
Income before taxes 92
Income taxes 23
Net income $ 69

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.

Required:

1. Using the indirect method, determine the net cash provided by/used in operating activities for this year. Please provide the whole Statement of Cash Flows (using Indirect Method) for Weaver Company.

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Irving Heathcote
Irving HeathcoteLv2
28 Sep 2019

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