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 $ 802,960 $ 863,990 Accounts receivable (net) 730,690 666,460 Inventories 1,108,080 1,019,760 Prepaid expenses 25,690 30,510 Land 276,220 417,540 Buildings 1,276,710 786,900 Accumulated depreciation-buildings (361,330) (337,240) Equipment 449,660 397,470 Accumulated depreciation-equipment (123,660) (138,910) Total assets $4,185,020 $3,706,480 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 795,150 $ 839,090 Bonds payable 234,360 0 Common stock, $20 par 276,000 102,000 Excess of paid-in capital over par 662,000 488,000 Retained earnings 2,217,510 2,277,390 Total liabilities and stockholders equity $4,185,020 $3,706,480 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 417,540 Apr. 20 Realized $131,400 cash from sale 141,320 276,220 ACCOUNT Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 786,900 Apr. 20 Acquired for cash 489,810 1,276,710 ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 337,240 Dec. 31 Depreciation for year 24,090 361,330 ACCOUNT Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 397,470 Jan. 26 Discarded, no salvage 43,700 353,770 Aug. 11 Purchased for cash 95,890 449,660 ACCOUNT Accumulated Depreciation-Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 138,910 Jan. 26 Equipment discarded 43,700 95,210 Dec. 31 Depreciation for year 28,450 123,660 ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 May 1 Issued 10-year bonds 234,360 234,360 ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 102,000 Dec. 7 Issued 8,700 shares of common stock for $40 per share 174,000 276,000 ACCOUNT Paid-in Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 488,000 Dec. 7 Issued 8,700 shares of common stock for $40 per share 174,000 662,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 2,277,390 Dec. 31 Net loss 28,830 2,248,560 Dec. 31 Cash dividends 31,050 2,217,510 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. Whitman Co. Statement of Cash Flows For the Year Ended December 31, 20Y2 Cash flows from (used for) operating activities: blank $- Select - Adjustments to reconcile net loss to net cash flows from (used for) operating activities: - Select - - Select - Changes in current operating assets and liabilities: blank - Select - - Select - - Select - - Select - Net cash flows used for operating activities blank $fill in the blank 15 Cash flows from (used for) investing activities: blank $- Select - - Select - - Select - Net cash flows used for investing activities blank fill in the blank 22 Cash flows from (used for) financing activities: blank $- Select - - Select - - Select - Net cash flows from financing activities blank fill in the blank 29 blank $- Select - Cash balance, January 1, 20Y2 blank fill in the blank 32 Cash balance, December 31, 20Y2