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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 Accounts receivable (net) Inventories Prepaid expenses Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Bonds payable Common stock, $20 par Excess of pald-in capital over par Retained earnings Total liabilities and stockholders' equity $ 860,210 782,790 1,187,090 27,530 295,910 1,367,730 (387,090) 481,720 (132,470) $ 926,440 713,970 1,092,470 32,690 447,310 843,010 (361,290) 425,800 (148,820) $4,483,420 $3,971,580 $ 898,920 0 $ 851,850 251,070 295,000 709,000 109,000 523,000 2,440,660 2,376,500 $4,483,420 $3,971,580 Total liabilities and stockholders' equity $4,483,420 $3,971,580 The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2012 are as follows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance Apr. 20 Realized $140,800 cash from sale 447,310 151,400 295,910 ACCOUNT Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 843,010 Jan. 1 Balance Apr. 20 Acquired for cash 524,720 1,367,730 ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 361,290 Dec. 31 Depreciation for year 25,800 387,090 Dec. 31 Depreciation for year 25,800 387,090 ACCOUNT Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 425,800 Jan. 26 Discarded, no salvage Aug. 11 Purchased for cash 46,800 379,000 102,720 481,720 ACCOUNT Accumulated Depreciation-Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 148,820 Jan. 1 Balance Jan. 26 Equipment discarded Dec. 31 Depreciation for year 46,800 102,020 30,450 132,470 ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 May 1 Issued 15-year bonds 251,070 251,070 ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 109,000 Jan. 1 Balance Dec. 7 Issued 9,300 shares of common stock for $40 per share 186,000 295,000 ACCOUNT Paid-in Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Debit Credit Debit Credit Date Item 2012 Jan. 1 Balance Dec. 7 Issued 9,300 shares of common stock for $40 per share 523,000 709,000 186,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 2,440,660 2,440,660 Dec. 31 Net loss 30,890 2,409,770 Dec 31 Cash dividends 33,270 2,376,500 Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Use the minus sign to in cash payments, decreases in cash, or any negative adjustments. Whitman Co. Statement of Cash Flows For the Year Ended December 31, 2012 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: O ill. Net cash flows used for operating activities Cash flows from (used for) investing activities: Changes in current operating assets and liabilities: Net cash flows used for operating activities Cash flows from (used for) investing activities: 1 lll. q. QUI Net cash flows used for investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities Cash balance, January 1, 20Y2 Cash balance, December 31, 2022