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Statement of Cash Flows The comparative balance sheet of Whitman Co. at December 31, 2012 and 2041, is as follows: Dec. 31, Dec. 31, 2012 2011 Assets Cash $ 839,860 $903,680 Accounts receivable (net) 764,270 697,080 Inventories 1,159,010 1,066,620 Prepaid expenses 26,880 31,910 Land 288,910 436,730 Buildings 1,335,380 823,060 Accumulated depreciation buildings (377,940) (352,740) Equipment 470,320 415,730 Accumulated depreciation-equipment (129,340) (145,300) Total assets $4,377,350 $3,876,770 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 831,700 $ 877,650 Bonds payable 245,130 0 Common stock, $20 par 289,000 107.000 Excess of paid-in capital over par 693,000 511,000 0 Accounts payable (merchandise creditors) $831,700 $877,650 Bonds payable 245,130 Common stock, $20 par 289,000 107,000 Excess of paid-in capital over par 693,000 511,000 Retained earnings 2,318,520 2,381,120 Total liabilities and stockholders' equity $4,377,350 $3,876,770 The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 20Y2 are as follows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 436,730 Jan. 1 Balance Apr. 20 Realized $137,500 cash from sale 147,820 288,910 ACCOUNT NO. ACCOUNT Buildings Balance Debit Credit Debit Credit Date Item 2012 823,060 Jan. 1 Balance 512.320 1.335.380 Apr. 201 Acouired for cash ACCOUNT Accumulated Depreciation Buildings ACCOUNT NO. Balance Date Debit Credit Debit Credit Item 2012 Jan. 1 Balance Dec. 31 Depreciation for year 352,740 25,200 377,940 ACCOUNT Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 415,730 45,700 370,030 Jan. 26 Discarded, no salvage Aug. 11 Purchased for cash 100,290 470,320 ACCOUNT Accumulated Depreciation-Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 essionLocator linprogress=false ACCOUNT Accumulated Depreciation Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 145,300 Jan. 1 Balance Jan. 26 Equipment discarded Dec 31 Depreciation for year 45,700 99,600 29,740 129,340 ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 May 1 Issued 20-year bonds 245,130 245,130 ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 107.000 Jan. 1 Balance Dec. 7 Issued 9,100 shares of common stock for $40 per share 182,000 289,000 ACCOUNT Pald-in Capital in Excess or Par Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 511,000 Jan. 1 Balance Dec. 7 issued 9,100 shares of common stock for $40 per share 182,000 693,000 ACCOUNT Retained Earnings ACCOUNT NO DAR ACCOUNT Retained Earnings ACCOUNT NO. Balance Item Debit Credit Date Credit Debit 2012 Jan. 1 Balance 2,381,120 Dec 31 Net loss 30, 240 2,350,980 Dec. 31 Cash dividends 32,460 2,318,520 Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sian to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments. Whitman Co. Statement of Cash Flows For the Year Ended December 31, 20Y2 Cash flows from (used for) operating activities: Adjustments to reconcile net loss to net cash flows from (used for operating activities: Changes in current operating assets and liabilities: Changes in current operating assets and liabilities: Net cash flows used for operating activities Cash flows from (used for investing activities: o 1 bill be 001 Net cash flows used for investing activities Cash flows from used for) financing activities: o Net cash flows from financing activities Cash balanceanuary 2012 Net cash flows used for operating activities Cash flows from (used for) investing activities: o Net cash flows used for investing activities Cash flows from (used for) financing activities: o Net cash flows from financing activities Cash balance, January 1, 2012 Cash balance. December 31, 2012