The following information applies to the questions displayed

The following information applies to the questions displayed below Comparative financial statements for Weaver Company follow Weaver Company Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 Assets Cash Accounts receivable Inventory Prepaid expenses $4 $ 13 229 196 305 158 475 444 507 427 (86) (70) 421 357 31 $ 921 $ 832 Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, and equipment Long-term investments 25 Total assets Liabilities and Stockholders\' Equity Accounts payable Income taxes payable Total current liabilities $ 301 71 73 $226 78 64 445 368 Bonds payable Total lablilties 643 539 Common stock Retained earnings Total stockholders\' equity 161 201 92 278293 Total fiabilities and stockholders\' equity $ 921 S 832 ncome Statement For the Year Ended December 31, 2015 s 751 446 Cost of goods sold

Solution

Cash flow from operating activities Net income 65 Adjustments to reconcile the net income Depreciation expense 26 Loss on sale of equipment 1 Gain on sale of investment -7 Changes in current asset and liabilities Increase in accounts receivable -76 decrease in Inventory 38 Increase in prepaid expensse -2 Increase in accounts payable 75 Decrease in accrued liabilities -7 Increase in income tax payable 9 57 Cash flow from operating activities 122 Cash flow from Investing activities Sale of investment 13 Purchase of Equipment -110 Sales of eqipment 19 Cash flow from Investing activities -78 Cash flow from Financing activities Bonds payable 27 Stock repurchased -40 Divided paid -40 Cash flow from Financing activities -53 Net Cash and cash equivalent -9 Add Beginning cash and cash equivalent 13 Ending cash and cash equivalent 4