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	$ 769,380			$ 829,330
Accounts receivable (net)	700,140			638,590
Inventories	1,061,740			977,110
Prepaid expenses	24,620			29,240
Land	264,670			400,080
Buildings	1,223,310			753,990
Accumulated depreciation-buildings	(346,220)			(323,140)
Equipment	430,850			380,840
Accumulated depreciation-equipment	(118,480)			(133,100)
Total assets	$4,010,010			$3,552,940
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 761,900			$ 804,000
Bonds payable	224,560			0
Common stock, $20 par	264,000			98,000
Excess of paid-in capital over par	634,000			468,000
Retained earnings	2,125,550			2,182,940
Total liabilities and stockholders equity	$4,010,010			$3,552,940

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			400,080
Apr. 20	Realized $125,900 cash from sale		135,410	264,670

ACCOUNT Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			753,990
Apr. 20	Acquired for cash	469,320		1,223,310

ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				323,140
Dec. 31	Depreciation for year		23,080		346,220

ACCOUNT Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			380,840
Jan. 26	Discarded, no salvage		41,900	338,940
Aug. 11	Purchased for cash	91,910		430,850

ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				133,100
Jan. 26	Equipment discarded	41,900			91,200
Dec. 31	Depreciation for year		27,280		118,480

ACCOUNT Bonds Payable				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 15-year bonds		224,560		224,560

ACCOUNT Common Stock, $20 par				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				98,000
Dec. 7	Issued 8,300 shares of common stock for $40 per share		166,000		264,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				468,000
Dec. 7	Issued 8,300 shares of common stock for $40 per share		166,000		634,000

ACCOUNT Retained Earnings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				2,182,940
Dec. 31	Net loss	27,630			2,155,310
Dec. 31	Cash dividends	29,760			2,125,550

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.

Whitman Co. Statement of Cash Flows For the Year Ended December 31, 20Y2

Cash flows from (used for) operating activities:	blank
	$Net loss
	Depreciation
	Loss on sale of land
	blank
	Increase in accounts receivable
	Increase in inventories
	Decrease in prepaid expenses
	Decrease in accounts payable
	blank	FillintheBlank
	blank
	$Cash received from sale of land
	Cash paid for acquisition of building
	Cash paid for purchase of equipment
Net cash flows used for investing activities	blank
Cash flows from (used for) financing activities:	blank
	$Cash received from issuing bonds payable
	Cash received from issuing common stock
	Cash dividends
	blank
	blank
Cash balance, January 1, 20Y2	blank
Cash balance, December 31, 20Y2	blank

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