Question

THIS Year Las Year $ 12 230 $ -4 309 156 9 470 514 (85) 429 28 $ 927 195 5 442 435 (71) 364 34 $840 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 Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $226 79 65 370 $ 304 71 71 446 200 646 162 119 281 298 $840 $ 927

Answer 1

Weaver Company Statement of Cash Flow-Indirect Method
Net income		$63
Adjustments to reconcile net income to net cash from operating activities:
Depreciation expense ($85+10-71)	$24
Gain on sale of investments	-6
Loss on sale of equipment	2
Increase in accounts receivable	-79
Decrease in inventory	39
Increase in prepaid expenses	-4
Increase in accounts payable	78
Decrease in accrued liabilities	-8
Increase in income tax payable	6
		52
Net cash provided by / used in operating activities		$115