The following information applies to the questions displayed below Comparative f

Question

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 recelvable Inventory Prepaid expenses $ 10 $ 11 306 229 195 5 158 9 Total current assets 483 440 Property, piant, and equipment 511432 Less accumulated depreciation (86) 70) Net property, plant, and equipment 425362 ng-term Investments 27 Total assets $935 $ 835 Liabiliues and Stockholders' Equity Accounts payable $ 305 71 73 $ 224 79 64 Accrued liabilities Income taxes payable Total current labilities 449367 Bonds payable Total llabilities Common stock 200 649 162 538 202 95 286297 $ 835 Retained earnings 124 Total stockholders equity Total iebilities and stockholders equity $ 935

Explanation / Answer

Statement of cash flow :

Cash flow from operating activities Net income 69 Adjustment to reconcile net income Depreciation exp 26 Gain on sale of investment (7) Loss on sale of equipment 2 Increase account receivable (77) Decrease inventory 37 Increase prepaid exp (4) Increase account payable 81 Decrease accured liabilities (8) Increase income tax payable 9 Net cash flow from operating activities 128 Cash flow investing activity Purchase equipment (110) Sale of investment 13 Sale of equipment 19 Net cash flow from investing activity (78) Cash flow from financing activity Dividend paid (40) Purchase of treasury stock (40) Issue bonds payable 29 Net cash flow from financing activity (51) Net cash flow (1) Beginning cash 11 Ending cash 10

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