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	$ 603,930			$ 651,620
Accounts receivable (net)	549,580			501,260
Inventories	833,420			766,990
Prepaid expenses	19,330			22,950
Land	207,750			314,040
Buildings	960,250			591,850
Accumulated depreciation-buildings	(271,770)			(253,650)
Equipment	338,200			298,950
Accumulated depreciation-equipment	(93,010)			(104,480)
Total assets	$3,147,680			$2,789,530
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 598,060			$ 631,110
Bonds payable	176,270			0
Common stock, $20 par	207,000			77,000
Excess of paid-in capital over par	497,000			367,000
Retained earnings	1,669,350			1,714,420
Total liabilities and stockholders equity	$3,147,680			$2,789,530

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			314,040
Apr. 20	Realized $98,800 cash from sale		106,290	207,750

ACCOUNT Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			591,850
Apr. 20	Acquired for cash	368,400		960,250

ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				253,650
Dec. 31	Depreciation for year		18,120		271,770

ACCOUNT Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			298,950
Jan. 26	Discarded, no salvage		32,900	266,050
Aug. 11	Purchased for cash	72,150		338,200

ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				104,480
Jan. 26	Equipment discarded	32,900			71,580
Dec. 31	Depreciation for year		21,430		93,010

ACCOUNT Bonds Payable				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 20-year bonds		176,270		176,270

ACCOUNT Common Stock, $20 par				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				77,000
Dec. 7	Issued 6,500 shares of common stock for $40 per share		130,000		207,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				367,000
Dec. 7	Issued 6,500 shares of common stock for $40 per share		130,000		497,000

ACCOUNT Retained Earnings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				1,714,420
Dec. 31	Net loss	21,700			1,692,720
Dec. 31	Cash dividends	23,370			1,669,350

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:
DepreciationGain on sale of landLoss on sale of landNet lossRetained earnings	$- Select -
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 stock	- Select -
Decrease in inventoriesGain on sale of landIncrease in accounts payableIncrease in prepaid expensesLoss on sale of land	- Select -
Changes in current operating assets and liabilities:
Decrease in accounts receivableDecrease in inventoriesDepreciationIncrease in accounts receivableIncrease in bonds payable	- Select -
Decrease in accounts receivableDecrease in bonds payableDecrease in inventoriesIncrease in accounts payableIncrease in inventories	- Select -
Decrease in inventoriesDecrease in prepaid expensesIncrease in accounts payableIncrease in common stockIncrease in prepaid expenses	- Select -
Decrease in accounts payableDecrease in inventoriesIncrease in accounts payableNet incomeRetained earnings	- Select -
Net cash flows used for operating activities		$fill in the blank 15
Cash flows from (used for) investing activities:
Cash received from issuing common stockCash received from sale of landDepreciationGain on sale of landLoss on sale of land	$- Select -
Cash paid for acquisition of buildingCash paid for bonds payableCash dividendsDepreciationLoss on sale of land	- Select -
Cash received from issuing common stockCash paid for purchase of equipmentDecrease in accounts receivableIncrease in accounts payableIncrease in inventories	- Select -
Net cash flows used for investing activities		fill in the blank 22
Cash flows from (used for) financing activities:
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		fill in the blank 29
DepreciationNet decrease in cashNet incomeNet increase in cashNet loss		$- Select -
Cash balance, January 1, 20Y2		fill in the blank 32
Cash balance, December 31, 20Y2		$fill in the blank 33