14. PR.13-03.BLANKSHEET.ALGO (Algorithmic) sh flows-indirect method tatemen Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows Dec. 31,20Y2 Dec. 31, 20Y1 Assets 918,000.00 $964,640.00 761,860.00 1,162,650.00 35,920.00 480,600.00 901,830.00 409,44000)(381,440.00) 3 Cash Accounts receivable (net) 5 Inventories 6 Prepaid expenses 7Land 8 Buildings 9 Accumulated depreciation-buildings 828,530.00 28,510.00 316,660.00 1,462,690.00 454,090.00 (141,800.00)(158,860.00) $4,784,190.00 $4,221,290.00 513,200.00 10 Equipment 1 Accumulated depreciation-equipment 12 Total assets Liabilities and Stockholders' Equity 13 $958,010.00 0.00 117,000.00 557,000.00 528,950.00 2589280.00 $4,784,190.00 $4,221,290.00 922,640.00 271,000.00 307,00000 754,600.00 14 Accounts payable (merchandise creditors) 15 Bonds payable 6 Common stock, $25 par 7 Paid-in capital: Excess of issue price over par-common stock 8 Retained earnings 9 Total abilities and stockholders equity The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 20Y2 are as follows: ACCOUNT Land ACCOUNT NO. Balance Debit Date 20Y2 Jan. 1 Balance tem Debit Credit Credit 480,600 Apr. 20 Realized $151,550 cash from sale 163,940316,660 ACCOUNT Buildings ACCOUNT NO. Balance Date 20Y2 Jan. 1 Balance Apr. 20 Acquired for cash 560,860 Item Debit Credit Debit Credit 901,830 1,462,690 ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO Balance Debit Date 20Y2 Jan. 1 Balance Dec. 31 Depreciation for year Item Debit Credit Credit 381,440 28,000 409,440 ACCOUNT Equipment ACCOUNT NO Balance Debit Date 20Y2 Jan. 1 Balance Item Debit Credit Credit 454,090 46,790407,300 513,200 26 Discarded, no salvage Aug. 11 Purchased for cash105,900 ACCOUNT Accumulated Depreciation Equipment ACCOUNT NO. Balance Debit Date 20Y2 Jan. 1 Balance Item Debit Credit Credit 158,860 112,070 141,800 26 Equipment discarded 46,790 Dec. 31 Depreciation for year 29,730 ACCOUNT Bonds Payable ACCOUNT NO. Balance Debit Debit Credit Item Credit Date 20Y2 May 1 Issued 20-year bonds271,000 271,000 ACCOUNT Common Stock $25 par ACCOUNT NO. Balance Debit Credit Debi Credit Date 20Y2 Jan. 1 Balance Dec. 7 Issued 7,600 shares of common stock for $51 per share190,000 Item 117,000 307,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Debit CreditDbit Credit Date 20Y2 Jan. 1 Balance Dec. 7 Issued 7,600 shares of common stock for $51 per share197,600 Item 557,000 754,600 ACCOUNT Retained Earnings ACCOUNT NO Balance Date 20Y2 Jan. 1 Balance ItemDebit Credit Debit Credit 2,589,280 2,560,530 2,528,950 Dec. 31 Net loss 28,750 31 Cash dividends 31,580 Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Cash paid for acquisition of building Cash paid for dividends Cash paid for merchandise Cash paid for purchase of equipment Cash received from customers Cash received from issuance of bonds payable Cash received from issuance of common stock Cash received from land sold Change in cash December 31, 20Y2 Decrease in accounts payable Decrease in accounts receivable Decrease in inventories Decrease in prepaid expenses Decrease in salaries payable Depreciation For the Year Ended December 31, 20Y2 Gain on sale of investments Gain on sale of land Gain on sale of investments Gain on sale of land Increase in accounts payable Increase in accounts receivable Increase in inventories Increase in prepaid expenses Increase in salaries payable Issuance of common stock for acquisition of building Issuance of common stock for purchase of equipment Issuance of common stock to retire bonds Loss on sale of investments Loss on sale of land Net cash flow from financing activities Net cash flow from investing activities Net cash flow from operating activities Net cash flow used for financing activities Net cash flow used for investing activities Net cash flow used for operating activities Net income 12 13 Cash flows from investing activities: 14 15 16 17 18 9 Cash flows from financing activities: 20 21 23 24 25 Cash at the beginning of the year Cash at the end of the year 26