Below is the comparative balance sheet for Whispering Corporation. Dec. 31, 2020 Dec. 31, 2019 Cash $16,600 $21,200 Short-term investments 24,700 19,000 Accounts receivable 43,300 45,000 Allowance for doubtful accounts (1,700) (2,100) Prepaid expenses 4,200 2,500 Inventory 81,300 64,700 Land 49,600 49,600 Buildings 125,700 73,800 Accumulated depreciation-buildings (29,800) (22,900) Equipment 53,300 46,200 Accumulated depreciation-equipment (19,000) (15,500) Delivery equipment 38,700 38,700 Accumulated depreciation-delivery equipment (22,200) (20,700) Patents 15,000 -O- $379,700 $299,500 Accounts payable $25,800 $16,000 Short-term notes payable (trade) 4,000 6,100 Accrued payables 3,000 4,600 Mortgage payable 72,400 52,900 Bonds payable 50,200 62,400 Common stock 139,500 102,700 Paid-in capital in excess of par 10,100 4,100 Retained earnings 74,700 $379,700 50,700 $299,500 Dividends in the amount of $15,100 were declared and paid in 2020. From this information, prepare a worksheet for a statement of cash flows. Make reasonable assumptions as appropriate. The short-term investments are considered available-for-sale and no unrealized gains or losses have occurred on these securities. (Enter amounts either in debit or in credit column in Statement of Cash Flows Effects except for totals.) WHISPERING CORPORATION WORKSHEET FOR PREPARATION OF STATEMENT OF CASH FLOWS For the Year Ended December 31, 2020 2020 Reconciling Items Balance at 12/31/19 Balance at 12/31/20 Debits Debit Credit Cash $21,200 $ 4600 $16,600 Short-term investments 19,000 5700 24,700 Accounts receivable 45,000 1700 43,300 Prepaid expenses 2,500 1700 4,200 Inventory 64,700 16600 81,300 Land 49,600 49,600 Buildings 73,800 51900 125,700 Equipment 46,200 7100 53,300 Equipment (Delivery) 38,700 38,700 Patents 15000 15,000 Total debits $360,700 $452,400 Credits Accounts payable $16,000 $ 9800 $25,800 Notes payable 6,100 2100 4,000 Accrued liabilities 4,600 1600 3,000 Allowance for doubtful accounts 2,100 400 1,700 Accumulated Depreciation-Building 6900 29,800 22,900 15,500 Accumulated Depreciation-Equipment 3500 19,000 Accumulated Depreciation-Delivery Equipment 20,700 1500 22,200 Mortgage payable 52,900 19500 72,400 Bonds payable 62,400 12200 50,200 Common stock 102,700 36800 139,500 Paid-in capital in excess 4,100 6000 10,100 Retained earnings 50,700 24000 74,700 Total credits $360,700 $452,400 Whispering Corporation Statement of Cash Flows Effects Cash Flows from Operating Activities Net Income $ 47300 47300 $ Depreciation Decrease in Accounts Receivable (Net) Increase in Prepaid Expenses Increase in Inventory Increase in Accounts Payable Increase in Notes Payable Decrease in Accrued Payables Cash Flows from Investing Activities Purchase of Investments Purchase of Building Purchase of Equipment Purchase of Patents Cash Flows from Financing Activities Issuance of Mortgage Payable A Redemption of Bonds Purchase of Common Stock Payment of Cash Dividends Totals Net Decrease in Cash Totals