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Comparative financial statements for Weaver Company follow:

Weaver Company Comparative Balance Sheet at December 31
	This Year				Last Year
Assets
Cash	$	7			$	11
Accounts receivable		309				229
Inventory		158				196
Prepaid expenses		9				5
Total current assets		483				441
Property, plant, and equipment		509				430
Less accumulated depreciation		(86	)			(71	)
Net property, plant, and equipment		423				359
Long-term investments		27				33
Total assets	$	933			$	833
Liabilities and Stockholders' Equity
Accounts payable	$	304			$	224
Accrued liabilities		73				78
Income taxes payable		75				64
Total current liabilities		452				366
Bonds payable		196				170
Total liabilities		648				536
Common stock		165				202
Retained earnings		120				95
Total stockholders equity		285				297
Total liabilities and stockholders' equity	$	933			$	833

Weaver Company Income Statement For This Year Ended December 31
Sales					$	751
Cost of goods sold						449
Gross margin						302
Selling and administrative expenses						220
Net operating income						82
Nonoperating items:
Gain on sale of investments	$	7
Loss on sale of equipment		(3	)			4
Income before taxes						86
Income taxes						24
Net income					$	62

During this year, Weaver sold some equipment for $18 that had cost $31 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 $37 of its own stock. This year Weaver did not retire any bonds.

	Weaver Company Statement of Cash Flows For This Year Ended December 31 Operating activities: Investing activities: 0 Financing activities: 0 0 Beginning cash and cash equivalents Ending cash and cash equivalents $0

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