Weaver Company Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 As

Question

Weaver Company Comparative Balance Sheet December 31, 2015 and 2014 2015 2014 Assets Cash Accounts receivable Inventory Prepaid expenses $ 9$ 15 240 175 340 125 10 484 436 Total current assets 610 (93) 470 Property, plant, and equipment (85) Less accumulated depreciation 517 385 Net property, plant, and equipment 16 19 Long-term investments $1,017 $ 840 Total assets Liabilities and Stockholders' Equity Accounts payable Accrued liabilities Income taxes payable $310$230 72 34 60 40 Total current liabilities Bonds payable 410 290 336 180 700 516 Total liabilities Common stock Retained earnings 210 107 250 74 317 324 Total stockholders' equity

Explanation / Answer

CASH FLOWS FROM OPERATING ACTIVITIES Net income $63 Add: Non cash expenses of depreciation $24 (93-(85-16)) (Gain)/Loss on sale of assets ($3) (Increase) decrease in current asset Increase in accounts receivable ($100) (240-340) Decrease in inventory $50 (175-125) Increase in prepaid expense ($4) (6-10) Increase(Decrease ) in current liabilities Accounts payable $80 (310-230) Accrued liabilities ($12) (60-72) Income tax payable $6 (40-34) NET CASH PROVIDED BY OPERATING ACTIVITIES for 2015 $104 Net cash provided by operating activities in 2015 $104 2 WEAVER COMPANY STATEMENT OF CASH FLOWS-Indirect method For the year ended December 31, 2015 CASH FLOW FROM OPERATING ACTIVITIES Net income $63 Add: Non cash expenses of depreciation $24 (Gain)/Loss on sale of assets ($3) (Increase) decrease in current asset Increase in accounts receivable ($100) Decrease in inventory $50 Increase in prepaid expense ($4) Increase(Decrease ) in current liabilities Accounts payable $80 Accrued liabilities ($12) Income tax payable $6 NET CASH PROVIDED BY OPERATING ACTIVITIES for 2015 $104 CASH FLOW FROM INVESTING ACTIVITIES Purchase of Plant, Property & Equipment ($180) (470-40)-610 Proceeds from sale of equipment $20 Net cash used in investing activities ($160) CASH FLOWS FROM FINANCING ACTIVITIES Sale of long term investments $10 (19-16) Proceeds from long term debts $110 (290-180) Repurchase of stock ($40) Cash dividend ($30) (107-(74+63)) Net Cash flow from financing activities $50 NET INCREASE /(DECREASE) IN CASH ($6) Beginning cash and cash equivallant $15 Ending Cash & cash equivalent $9 NET INCREASE /(DECREASE) IN CASH ($6)

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