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	$ 524,080			$ 562,990
Accounts receivable (net)	476,910			434,990
Inventories	723,230			665,580
Prepaid expenses	16,770			19,920
Land	180,280			272,520
Buildings	833,290			513,600
Accumulated depreciation-buildings	(235,840)			(220,110)
Equipment	293,480			259,420
Accumulated depreciation-equipment	(80,710)			(90,670)
Total assets	$2,731,490			$2,418,240
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 518,980			$ 547,660
Bonds payable	152,960			0
Common stock, $20 par	181,000			67,000
Excess of paid-in capital over par	433,000			319,000
Retained earnings	1,445,550			1,484,580
Total liabilities and stockholders equity	$2,731,490			$2,418,240

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			272,520
Apr. 20	Realized $85,800 cash from sale		92,240	180,280

ACCOUNT Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			513,600
Apr. 20	Acquired for cash	319,690		833,290

ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				220,110
Dec. 31	Depreciation for year		15,730		235,840

ACCOUNT Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			259,420
Jan. 26	Discarded, no salvage		28,500	230,920
Aug. 11	Purchased for cash	62,560		293,480

ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				90,670
Jan. 26	Equipment discarded	28,500			62,170
Dec. 31	Depreciation for year		18,540		80,710

ACCOUNT Bonds Payable				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 20-year bonds		152,960		152,960

ACCOUNT Common Stock, $20 par				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				67,000
Dec. 7	Issued 5,700 shares of common stock for $40 per share		114,000		181,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				319,000
Dec. 7	Issued 5,700 shares of common stock for $40 per share		114,000		433,000

ACCOUNT Retained Earnings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				1,484,580
Dec. 31	Net loss	18,790			1,465,790
Dec. 31	Cash dividends	20,240			1,445,550

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: Those should have two answers

_________ $______

2Adjustments to reconcile net loss to net cash flows from (used for) operating activities:

_________ $______

________ $______

6Changes in current operating assets and liabilities:

________ $______

________ $______

________ $______

________ $______

14Net cash flows used for operating activities $____

15Cash flows from (used for) investing activities:

_______ $______

________ $______

________ $______

21Net cash flows used for investing activities $____

_______ $______

Cash flows from (used for) financing activities:

______ $______

_______ $______

_______ $______

28Net cash flows from financing activities $______

______ $______

1Cash balance, January 1, 20Y2 $______

2Cash balance, December 31, 20Y2 $______