Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash $ 18 $ 11 Accounts receivable 293 231 Inventory 152 194 Prepaid expenses 9 6 Total current assets 472 442 Property, plant, and equipment 505 426 Less accumulated depreciation (82 ) (71 ) Net property, plant, and equipment 423 355 Long-term investments 28 34 Total assets $ 923 $ 831 Liabilities and Stockholders' Equity Accounts payable $ 300 $ 226 Accrued liabilities 71 78 Income taxes payable 74 63 Total current liabilities 445 367 Bonds payable 196 170 Total liabilities 641 537 Common stock 163 202 Retained earnings 119 92 Total stockholders’ equity 282 294 Total liabilities and stockholders' equity $ 923 $ 831 Weaver Company Income Statement For This Year Ended December 31 Sales $ 752 Cost of goods sold 447 Gross margin 305 Selling and administrative expenses 220 Net operating income 85 Nonoperating items: Gain on sale of investments $ 7 Loss on sale of equipment (2 ) 5 Income before taxes 90 Income taxes 24 Net income $ 66 During this year, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $39 of its own stock. This year Weaver did not retire any bonds. Required: Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for this year. I am trying to figure out is the additions to property, plant and equipment specifically.

Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash $ 18 $ 11 Accounts receivable 293 231 Inventory 152 194 Prepaid expenses 9 6 Total current assets 472 442 Property, plant, and equipment 505 426 Less accumulated depreciation (82 ) (71 ) Net property, plant, and equipment 423 355 Long-term investments 28 34 Total assets $ 923 $ 831 Liabilities and Stockholders' Equity Accounts payable $ 300 $ 226 Accrued liabilities 71 78 Income taxes payable 74 63 Total current liabilities 445 367 Bonds payable 196 170 Total liabilities 641 537 Common stock 163 202 Retained earnings 119 92 Total stockholders’ equity 282 294 Total liabilities and stockholders' equity $ 923 $ 831 Weaver Company Income Statement For This Year Ended December 31 Sales $ 752 Cost of goods sold 447 Gross margin 305 Selling and administrative expenses 220 Net operating income 85 Nonoperating items: Gain on sale of investments $ 7 Loss on sale of equipment (2 ) 5 Income before taxes 90 Income taxes 24 Net income $ 66 During this year, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $39 of its own stock. This year Weaver did not retire any bonds. Required: Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for this year. I am trying to figure out is the additions to property, plant and equipment specifically.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31
	This Year		Last Year
Assets
Cash	$	18		$	11
Accounts receivable		293			231
Inventory		152			194
Prepaid expenses		9			6
Total current assets		472			442
Property, plant, and equipment		505			426
Less accumulated depreciation		(82	)		(71	)
Net property, plant, and equipment		423			355
Long-term investments		28			34
Total assets	$	923		$	831
Liabilities and Stockholders' Equity
Accounts payable	$	300		$	226
Accrued liabilities		71			78
Income taxes payable		74			63
Total current liabilities		445			367
Bonds payable		196			170
Total liabilities		641			537
Common stock		163			202
Retained earnings		119			92
Total stockholders’ equity		282			294
Total liabilities and stockholders' equity	$	923		$	831

Weaver Company Income Statement For This Year Ended December 31
Sales				$	752
Cost of goods sold					447
Gross margin					305
Selling and administrative expenses					220
Net operating income					85
Nonoperating items:
Gain on sale of investments	$	7
Loss on sale of equipment		(2	)		5
Income before taxes					90
Income taxes					24
Net income				$	66

During this year, Weaver sold some equipment for $18 that had cost $30 and on which there was accumulated depreciation of $10. In addition, the company sold long-term investments for $13 that had cost $6 when purchased several years ago. Weaver paid a cash dividend this year and the company repurchased $39 of its own stock. This year Weaver did not retire any bonds.

Required:

Using the information from Part 1, along with an analysis of the remaining balance sheet accounts, prepare a statement of cash flows for this year.

I am trying to figure out is the additions to property, plant and equipment specifically.

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