PR 13-3A Statement of cash flows-indirect method Obj. 2, 3, 4,5 The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 2041, is as follows: Net cash flow 1 for operating ies, $(169,600) X EL TEMPLATE Land ... Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 918,000 $ 964,800 Accounts receivable (net). 828,900 761,940 Inventories 1,268,460 1,162,980 Prepaid expenses 29,340 35,100 315,900 479,700 Buildings 1,462,500 900,900 Accumulated depreciation-buildings (408,600) (382,320) Equipment. 512,280 454,680 Accumulated depreciation equipment (141,300) (158,760) Total assets $4,785,480 $4,219,020 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 922,500 $ 958,320 0 270,000 Bonds payable Common stock, $25 par. 317,000 117,000 Paid-in capital in excess of par-common stock 758,000 558,000 Retained earnings... 2,517,980 2,585,700 $4,785,480 $4,219,020 Total liabilities and stockholders' equity The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 20Y2 are as follows: ACCOUNT NO. ACCOUNT Land Balance Debit Credit Credit Debit Item Date 479,700 20Y2 Jan. Apr. 1 20 Balance Realized $151,200 cash from sale 163,800 315,900 ACCOUNT NO. ACCOUNT Buildings Balance Debit Credit Debit Credit Item Date 20Y2 Jan. 900,900 1,462,500 1 20 Balance Acquired for cash 561,600 Apr. (Continued) ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Balance Date Credit Item Debit Debit Credit 20Y2 Jan. Dec. 1 31 Balance Depreciation for year 382,320 408,600 26,280 ACCOUNT Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 26 11 Balance Discarded, no salvage Purchased for cash 46,800 454,680 407,880 512,280 Aug. 104,400 ACCOUNT Accumulated Depreciation Equipment ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2DY2 Jan. 1 26 31 Balance Equipment discarded Depreciation for year 46,800 158,760 111,960 141,300 Dec. 29,340 ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Debit Credit Debit Credit 2012 May 1 Issued 20-year bonds 270,000 270,000 ACCOUNT Common Stock, $25 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20YZ Jan. Dec. 1 7 Balance Issued 8,000 shares of common stock for $50 per share 117,000 200,000 317,000 ACCOUNT Paid-in Capital in Excess of Par-Common Stock ACCOUNT NO Balance Date Item Debit Credit Debit Credit 20Y2 Jan. Dec. 1 7 Balance Issued 8,000 shares of common stock for $50 per share 558,000 200,000 758,000 673 Chapter 13 Statement of Cash Flows ACCOUNT NO. ACCOUNT Retained Earnings Balance Date Item Debit Credit Debit Credit 20Y2 Jan. Dec. 1 31 31 Balance Net loss Cash dividends 35,320 32,400 2,585,700 2,550,380 2,517,980 Instructions Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities