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Statement of Cash Flows

The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows:

	Dec. 31, 20Y2		Dec. 31, 20Y1
Assets
Cash	$ 869,480			$ 936,410
Accounts receivable (net)	791,230			721,670
Inventories	1,199,880			1,104,240
Prepaid expenses	27,820			33,040
Land	299,100			452,130
Buildings	1,382,470			852,090
Accumulated depreciation-buildings	(391,270)			(365,180)
Equipment	486,910			430,390
Accumulated depreciation-equipment	(133,900)			(150,420)
Total assets	$4,531,720			$4,014,370
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 861,030			$ 908,610
Bonds payable	253,780			0
Common stock, $20 par	298,000			110,000
Excess of paid-in capital over par	717,000			529,000
Retained earnings	2,401,910			2,466,760
Total liabilities and stockholders equity	$4,531,720			$4,014,370

The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 20Y2 are as follows:

ACCOUNT Land	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			452,130
Apr. 20	Realized $142,300 cash from sale		153,030	299,100

ACCOUNT Buildings	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			852,090
Apr. 20	Acquired for cash	530,380		1,382,470

ACCOUNT Accumulated Depreciation-Buildings	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				365,180
Dec. 31	Depreciation for year		26,090		391,270

ACCOUNT Equipment	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			430,390
Jan. 26	Discarded, no salvage		47,300	383,090
Aug. 11	Purchased for cash	103,820		486,910

ACCOUNT Accumulated Depreciation-Equipment	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				150,420
Jan. 26	Equipment discarded	47,300			103,120
Dec. 31	Depreciation for year		30,780		133,900

ACCOUNT Bonds Payable	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 10-year bonds		253,780		253,780

ACCOUNT Common Stock, $20 par	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				110,000
Dec. 7	Issued 9,400 shares of common stock for $40 per share		188,000		298,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				529,000
Dec. 7	Issued 9,400 shares of common stock for $40 per share		188,000		717,000

ACCOUNT Retained Earnings	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				2,466,760
Dec. 31	Net loss	31,220			2,435,540
Dec. 31	Cash dividends	33,630			2,401,910

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 indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.

Cash flows from (used for) operating activities:	blank
DepreciationGain on sale of landLoss on sale of landNet lossRetained earningsNet loss	$Net loss
Adjustments to reconcile net loss to net cash flows from (used for) operating activities:
Decrease in accounts receivableDepreciationGain on sale of landIncrease in bonds payableIncrease in common stockDepreciation	Depreciation
Decrease in inventoriesGain on sale of landIncrease in accounts payableIncrease in prepaid expensesLoss on sale of landLoss on sale of land	Loss on sale of land
Changes in current operating assets and liabilities:	blank
Decrease in accounts receivableDecrease in inventoriesDepreciationIncrease in accounts receivableIncrease in bonds payableIncrease in accounts receivable	Increase in accounts receivable
Decrease in accounts receivableDecrease in bonds payableDecrease in inventoriesIncrease in accounts payableIncrease in inventoriesDecrease in inventories	Decrease in inventories
Decrease in inventoriesDecrease in prepaid expensesIncrease in accounts payableIncrease in common stockIncrease in prepaid expensesDecrease in prepaid expenses	Decrease in prepaid expenses
Decrease in accounts payableDecrease in inventoriesIncrease in accounts payableNet incomeRetained earningsDecrease in accounts payable	Decrease in accounts payable
Net cash flows used for operating activities	blank	$fill in the blank 15
Cash flows from (used for) investing activities:	blank
Cash received from issuing common stockCash received from sale of landDepreciationGain on sale of landLoss on sale of landCash received from sale of land	$Cash received from sale of land
Cash paid for acquisition of buildingCash paid for bonds payableCash dividendsDepreciationLoss on sale of landCash paid for acquisition of building	Cash paid for acquisition of building
Cash received from issuing common stockCash paid for purchase of equipmentDecrease in accounts receivableIncrease in accounts payableIncrease in inventoriesCash paid for purchase of equipment	Cash paid for purchase of equipment
Net cash flows used for investing activities	blank	fill in the blank 22
Cash flows from (used for) financing activities:	blank
Cash received from decrease in accounts receivableCash received from decrease in prepaid expensesCash received from issuing bonds payableCash received from purchase of buildingCash received from purchase of equipment	$- Select -
Cash paid for accounts payableCash paid for acquisition of buildingCash paid for issuance of common stockCash received from customersCash received from issuing common stock	- Select -
Cash from net lossCash dividendsCash paid for purchase of buildingCash paid for purchase of equipmentNet income	- Select -
Net cash flows from financing activities	blank	fill in the blank 29
DepreciationNet decrease in cashNet incomeNet increase in cashNet loss	blank	$- Select -
Cash balance, January 1, 20Y2	blank	fill in the blank 32
Cash balance, December 31, 20Y2	blank	$fill in the blank 33