Question

Weaver Company Comparative Balance Sheet at December 31 This Year Last Year $ 12 294 160 8 474 511 (81) 430 26 $ 13 230 195 5 443 431 (71) 360 32 $835 $ 930 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 $ 304 70 72 446 196 642 162 126 288 $ 930 $ 225 79 65 369 171 540 201 94 295 $835 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 $ 6 Loss on sale of equipment (1) Income before taxes Income taxes Net income $ 753 445 308 220 88 5 93 22 $ 71 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 $12 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.

Answer 1

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you. Net Income Cash Flow a a 689.00 230 753 d Cash Received from customer From Dividend Received Cash paid to vendors to Employee Sale Beginning Receivable, Net Add: Sale Less: Ending Receivable, Net Cash Received from Customers $ $ $ $ $ $ $ $ b -294 -331.00 -212.00 с 689 For Income Tax с $ - 15.00 b Cost of Goods Sold Net Cash flow from Operating Activities $ 131.00 445 -195 Cost of Goods Sold Less:Beginning Inventory Add: Ending Inventory Purchases $ $ $ $ 160 Cash flow from Investing activities: Sale of Equipment Sale of Long term investment Purchase of Equipment $511-($431-$30) Net Cash from Investing Activities $ $ $ 19.00 12.00 - 110.00 410 225 $ -79.00 410 Beginign Payable Add: Purchase Less: Ending Payable Cash paid to vendors $ $ $ $ -304 Cash flow from financing activities: 331 25.00 с Sale of Bond Repurchase of Common Stock Payment of Dividend $94+$71-$$126 Net Cash from Financing Activities $ $ $ -39.00 -39.00 $ -53.00 Salaries Expense/Interest/Income Tax Selling and Admin Income Tax Beginning Payable $ 79 $ 65 Add: Expense ($220-$20 Dep) $ 200 $ 22 Less: Ending Payable $ -70 $ -72 $ 209 $ 15 Less: Beginning Prepaid $ -5 Add: Ending Prepaid $ 8 $ 212 $ 15 -1.00 Net Increase in Cash Add: Beginning Balance $ $ 13.00 Ending Balance $ 12.00