le Edit View History Bookmarks Develop Window Help 93 pter 14 Homework 3 Require

Question

le Edit View History Bookmarks Develop Window Help 93 pter 14 Homework 3 Required information Problem 14-7 Prepare a Statement of Cash Flows (LO14-1, LO14-2) The following information appies to the questions displayed below Comparative financial statements for Weaver Company follow 1of 2 Comparative Balance Sheet at Decenber 31 02:3309 Year Last y $13 308 IeventorY Prepaid expenses Property, plant, and eqaipment 6)72) tess accunulated depreciation Net property, plant, and equipment Long-tern investments 936 Ldabilities and Stockholders' Equity Aooounts payable Acerued 1iabilitiea Incone taxes payable total eurrent liabilities Bonds payable Total 1iabilities Commoa stock Retained earninge Total stoekholders equity $830 $224 _366 - 646-536 302 72 201 Total liabilities and stockholders equity 936 $830 28 MacBook Pro

Explanation / Answer

Operating activities: Net income 70 Adjustments to convert net income to cash basis: Depreciation 24 Loss on sale of equipment 2 Gain on sale of investments -6 Increase in accounts receivable -79 Decrease in inventory 37 Increase in prepaid expenses -2 Increase in accounts payable 78 Decrease in accrued liabilities -5 Increase in income taxes payable 9 58 Net cash provided by operating activities 128

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