Instructions The comparative balance sheet of Whitman Co. at December 31, 2012 and 2011, is as follows: 2 Cash Accounts receivable (net) Inventories Prepaid expenses Land Dec. 31, 2012 Dec. 31, 2011 Assets $918,000.00 $964,800.00 828,900.00 761,940.00 1,268,460.00 1,162,980.00 29,340.00 35,100.00 315,900.00 479,700.00 Instructions Buildings Accumulated depreciation-buildings Equipment 11 Accumulated depreciation-equipment 1,462,500.00 900,900.00 (408,600.00) (382,320.00) 517,280.00 454,680.00 (141,500.00) (158,760.00) 12 Total assets $4,785,480.00 $4,219,020.00 13 Liabilities and Stockholders' Equity 14 Accounts payable (merchandise creditors) $922,500.00 $958,320.00 15 Bonds payable 270,000.00 0.00 16 Common stock, $25 par 317,000.00 117,000.00 17 Excess of paid-in capital over par 758,000.00 $58,000.00 Instructions 18 Retained earnings 19 Total liabilities and stockholders' equity 2,517,980.00 2,585,700.00 $4,785,480.00 $4,219,020.00 The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2012 are as follows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debt Credit 2012 Instructions Jan. 1 Balance 479,700 Apr. 20 Realized $151,200 cash from sale 163,800 315,900 ACCOUNT Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 900,900 Apr. 20 Acquired for cash 561,600 1,462,500 Instructions ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 382,320 Dec. 31 Depreciation for year 26,280 408,600 ACCOUNT Equipment ACCOUNT NO. Balance Instructions Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 26 Discarded, no salvage Aug. 11 Purchased for cash 104,400 454,680 46,800 407,880 512,280 ACCOUNT Accumulated Depreciation-Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Instructions Jan. 1 Balance 26 Equipment discarded 46,800 Dec. 31 Depreciation for year ACCOUNT Bonds Payable 158,760 111,960 29,340 141,300 ACCOUNT NO. Balance Item Debit Credit Debit Credit Date 20Y2 May 1 Issued 20-year bonds 270,000 270,000 Instructions ACCOUNT Common Stock $25 par Date 20Y2 ACCOUNT NO. Balance Item Debit Credit Debit Credit Jan. 1 Balance Dec. 7 Issued 8,000 shares of common stock for $50 per share ACCOUNT Paid-In Capital in Excess of Par-Common Stock 117,000 200,000 317,000 ACCOUNT NO. Balance Instructions Date tem Debit Credit Debit Credit 2012 Jan. 1 Balance 558,000 Dec. 7 Issued 8,000 shares of common stock for $50 per share 200,000 758,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 2,585,700 Instructions balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 2,585,700 Dec. 31 Net loss 35,320 2,550,380 31 Cash dividends 32,400 2,517,980 Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for) operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section, if required