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Weaver Company Comparative Balance Sheet Dec...

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Weaver Company Comparative Balance Sheet December 31, 2009 and 2008 2009 2008 Assets Cash $9 $15 Accounts receivable 340 240 Inventory 125 175 Prepaid expenses 10 6 Plant and equipment 610 470 Less accumulated depreciation (93) (85) Long-term investments 16 19 Total assets $1,017 $840 Liabilities and Stockholder's Equity Accounts payable $310 $230 Accrued liabilities 60 72 Bonds payable 290 180 Deferred income taxes 40 34 Common stock 210 250 Retained earnings 107 74 Total liabilities and equity $1,017 $840 Weaver Company Income Statement For the Year Ended December 31, 2009 Sales $800 Cost of goods sold 500 Gross margin 300 Selling and administrative expenses 213 Net operating income 87 Nonoperating items: Gain on sale of investments $7 Loss on sale of equipment 4 3 Income before taxes 90 Income taxes 27 Net income $63 During 2009, the company sold some equipment for $20 that had cost $40 and on which there was accumulated depreciation for $16. In addition, the company sold long-term investments for $10 that had cost $3 when purchased several years ago. Cash dividends totaling $30 were paid during 2009. 1. Using the indirect method, determine the net cash provided by operating activities for 2009. 2. Using the information in (1) above, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for 2009.,Dear Tutor, Please provide the information that how did you calculate the $(180) purchase of equipment on row 88? Thanks,

 

Paper#9562 | Written in 18-Jul-2015

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