Statement of Cash Flows The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 2041, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets Cash $ 549,750 $ 589,740 Accounts receivable (net) 500,270 456,290 Inventories 758,650 698,180 Prepaid expenses 17,590 20,890 Land 189,110 285,870 874,100 538,760 Buildings Accumulated depreciation-buildings (247,390) (230,900) Equipment 307,860 272,130 Accumulated depreciation equipment (84,660) (95,110) Total assets $2,865,280 $2,535,850 $ 544,400 $ 574,490 160,460 0 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Bonds payable Common stock, $20 par Excess of paid-in capital over par Retained earnings 190,000 70,000 454,000 334,000 1,516,420 1,557,360 Total liabilities and stockholders' equity $2,865,280 $2,535,850 The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 20Y2 are as follows: ACCOUNT NO. ACCOUNT Land Balance Credit Debit Debit Credit Date Item 20Y2 285,870 Jan. 1 Balance 96,760 189, 110 Apr. 20 Realized $90,000 cash from sale ACCOUNT NO. ACCOUNT Buildings Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 538,760 335,340 874,100 Apr. 20 Acquired for cash ACCOUNT NO. ACCOUNT Accumulated Depreciation-Buildings Balance Debit Item Credit Debit Date Credit 20Y2 Jan. 1 Balance 230,900 16,490 247,390 Dec. 31 Depreciation for year ACCOUNT Equipment ACCOUNT NO. Balance Item Debit Credit Date Debit Credit 20Y2 Jan. 1 Balance 272,130 Jan. 26 Discarded, no salvage 29,900 242 230 65,630 Aug. 11 Purchased for cash 307,860 ACCOUNT Accumulated Depreciation-Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 95,110 Jan. 26 Equipment discarded 29,900 65,210 Dec. 31 Depreciation for year 19,450 84,660 ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 May 1 Issued 10-year bonds 160,460 160,460 ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 70,000 120,000 Dec. 7 Issued 6,000 shares of common stock for $40 per share 190,000 ACCOUNT Paid-in Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 334,000 Dec. 7 Issued 6,000 shares of common stock for $40 per share 120,000 454,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 1,557,360 Dec. 31 Net loss 19,710 1,537,650 Dec. 31 Cash dividends 21,230 1,516,420 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 Whitman Co. Statement of Cash Flows For the Year Ended December 31, 20Y2 Cash flows from (used for) operating activities: Adjustments to reconcile net loss to net cash flows from (used for) operating activities: Changes in current operating assets and liabilities: Net cash flows used for operating activities Cash flows from (used for) investing activities: Il 1000 QIU QUO Net cash flows used for investing activities Cash flows from (used for) financing activities: Net cash flows from financing activities DOOD Cash balance, January 1, 20Y2 Cash balance, December 31, 20Y2