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Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 26 31 195 Assets Cash and cash equivalents 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' Equit Accounts payable Accrued liabilities Income taxes payable Total current liabilities Bonds payable Total liabilities Common stock Retained earnings 919 730 110 620 2 $1,541 $1,339 R $ 440 $ 310 4050 89 569 442 395 320 964 377 500 200 577 1,541 $1,339 577 holders' equity Total liabilities and stockholders' equity Check my work 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 Net income During this year, Weaver sold some equipment for $14 that had cost $53 and on which there was accumulated depreciation of $34. In addition, the company sold long-term investments for $58 that had cost $50 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $123 of its own stock. This year Weaver did not retire any bonds. Required: 1. Using the direct method, adjust the company's income statement for this year to a cash basis. 2. Using the information obtained in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for this year. ona... Calatabia and hentai .. intha the holi

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