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, 20Y1Assets

Cash$ 682,260 $ 733,770

Accounts receivable(net) 620,860 566,280

Inventories 941,520 866,470

Prepaid expenses 21,830 25,930

Land 234,700 354,780

Buildings 1,084,790 668,610

Accumulated depreciation-buildings (307,020) (286,550)

Equipment 382,070 337,720

Accumulated depreciation-equipment (105,070) (118,030)

Total assets$3,555,940 $3,148,980

Liabilities and Stockholders' Equity

Accounts payable (merchandise creditors)$ 675,630 $ 712,960

Bonds payable 199,130 0

Common stock, $20 par 235,000 87,000

Excess of paid-in capital over par 563,000 415,000

Retained earnings 1,883,180 1,934,020

Total liabilities and stockholders equity $3,555,940 $3,148,980

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

ACCOUNT Land	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit
20Y2
Jan. 1	Balance			354,780
Apr. 20	Realized $111,700 cash from sale		120,080	234,700

ACCOUNT Buildings	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			668,610
Apr. 20	Acquired for cash	416,180		1,084,790

ACCOUNT Accumulated Depreciation-Buildings	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				286,550
Dec. 31	Depreciation for year		20,470		307,020

ACCOUNT Equipment	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			337,720
Jan. 26	Discarded, no salvage		37,100	300,620
Aug. 11	Purchased for cash	81,450		382,070

ACCOUNT Accumulated Depreciation-Equipment	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				118,030
Jan. 26	Equipment discarded	37,100			80,930
Dec. 31	Depreciation for year		24,140		105,070

ACCOUNT Bonds Payable	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 20-year bonds		199,130		199,130

ACCOUNT Common Stock, $20 par	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				87,000
Dec. 7	Issued 7,400 shares of common stock for $40 per share		148,000		235,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				415,000
Dec. 7	Issued 7,400 shares of common stock for $40 per share		148,000		563,000

ACCOUNT Retained Earnings	ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				1,934,020
Dec. 31	Net loss	24,480			1,909,540
Dec. 31	Cash dividends	26,360			1,883,180

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:
Net loss	blank

Adjustments to reconcile net loss to net cash flows from (used for) operating activities:
Increase in accounts receivable	blank
Increase in inventories\	blank

Changes in current operating assets and liabilities:
Increase in accounts receivable	blank
Increase in inventories	blank
Decrease in prepaid expenses	blank
Decrease in accounts payable	blank

Net cash flows used for operating activities

blank

Cash flows from (used for) financing activities:
Cash received from issuing bonds payable	blank
Cash received from issuing common stock	blank
Cash dividends	blank

Net cash flows from financing activities		blank
Net decrease in cash		blank

Cash balance, January 1, 20Y2

blank

Cash balance, December 31, 20Y2 blank