Chapter 16 Homework PR 16-3A Statement of cash flows-indirect method The comparative balance sheets of Whitman Co. at December 31, 2016 and 2015, is as follows: Cash Accounts receivable (net). Inventories Prepaid expenses Land Buildings a Assets Accumulated depreciation-buildings. Equipment... Accumulated depreciation-equipment. Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Bonds payable. Common stock, $25 par... Paid-in capital: Excess of issue price over par-common stock.. Retained earnings...... Total liabilities and stockholders' equity.. Dec. 31, 2016 Dec. 31, 2015 $ 918,000 828,900 $ 964,800 1,268,460 761,940 1,162,980 29,340 35,100 315,900 479,700 1,462,500 900,900 (408,600) (382,320) 512,280 454,680 (141,300) (158,760) $4,785,480 $4,219,020 $ 922.500 $ 958,320 270,000 317,000 117,000 758,000 558,000 2.517.980 2.585,700 $4,785,480 $4,219,020 The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2016 are as follows: ACCOUNT Land Date 2016 Jan. 1 Balance ACCOUNT NO. Balance Item Debit Credit Debit Credit 479,700 Apr. 20 Realized $151,200 cash from sale 163,800 315,900 ACCOUNT Buildings ACCOUNT NO. Balance Item Debit Credit Debit Credit Date 2018 Jan. 1 Balance Apr. 20 Acquired for cash 561,600 900,900 1,462,500