Statement of cash flows-indirect method Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 2041, is as follows: 1 Dec 31, 20Y2 Dec 31, 2041 2 Assets 3 Cash $918,000.00 $964,800.00 4 Accounts receivable (net) 828,900.00 761,940,00 5 Inventories 1,268,460.00 1,162,980.00 6 Prepaid expenses 29,340.00 35,100.00 7 Land 315,900.00 479,700.00 & Buildings 1,462,500.00 900,900.00 9 Accumulated depreciation-buildings (408,600.00) (582,320.00 512,280.00 454,680.00 10 Equipment 11 Accumulated depreciation equipment (141,300.00 (158,760.00) Total assets $4,785,480.00 $4,219,020.00 13 Liabilities and Stockholders' Equity $922,500.00 $958,320.00 14 Accounts payable (merchandise creditors) 270,000.00 0.00 15 Bonds payable 317,000.00 117,000.00 16 Common stock, $25 par 758,000.00 558,000.00 17 Paid-in capital: Excess of issue price over par-common stock 2,517,980.00 2,585,700.00 18 Retained earnings instructions Labels and Amount Descriptions Slasement of Cash CS Instructions 13 Retained eamings 2.517.980.00 21585 700.00 19 Total liabilities and stockholders' equity $4.785.480.00 $4,219,020,00 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 479.700 Apr. 20 Realized $151,200 cash from sale 163.800 315,900 ACCOUNT Buildings ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2012 Jan 1 Balance 900.900 Apr. 20 Acquired for cash 561,600 1.462.500 ACCOUNT Accumulated Depreciation-Buildings ACCOUNT MO Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions ACCOUNT Accumulated Depreciation Buildings ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2012 Jan. Balance 382.320 Dec. 31 Depreciation for year 26,280 408,600 ACCOUNT Equipment ACCOUNT NO Balance Item Date Debit Credit Debit Credit 2012 Balance 454,680 Jan. 1 26 Discarded, no salvage 46.800 407 880 104.400 512 280 Aug. 11 Purchased for cash ACCOUNT Accumulated Depreciation Equipment ACCOUNT NO Balance Date Item Debit Credit Debit Credit 20Y2 158.760 Jan. 1 Balance 960 26. Fouinment discarded 46.800 Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions 26 Equipment discarded 46,800 111,960 Dec. 31 Depreciation for year 29,340 141,300 ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 May 1 Issued 20-year bonds 270.000 270.000 ACCOUNT Common Stock $25 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 117.000 Dec. 7 Issued 8,000 shares of common stock for $50 per share 200.000 317,000 ACCOUNT Paid-In Capital in Excess of Par--Common Stock ACCOUNT NO Balance Item Date Debit Debit Credit Credit 20Y2 558,000 Jan. 1 Balance Geck My Work Instructions Jan. 1 Balance 117.000 Dec. 7 Issued 8,000 shares of common stock for $50 per share 200.000 317.000 ACCOUNT Paid-in Capital in Excess of Par-Common Stock ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 558,000 Dec. 7 Issued 8,000 shares of common stock for $50 per share 200.000 758,000 ACCOUNT Retained Earnings ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 2.585.700 Dec. 31 Net loss 35.320 2.550,380 31 Cash dividends 32.400 2.517.980 Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to co minus sign to indicate net loss, cash outflows, cash payments, decreases in cash, or any negative adjustments. Labels and Amount Descriptions Labels and Amount Descriptions Cash paid for acquisition of building Cash paid for dividends Cash paid for merchandise Cash paid for purchase of equipment Cash received from customers Cash received from issuance of bonds payable Cash received from issuance of common stock Cash received from land sold Change in cash December 31, 2012 Decrease in accounts payable Decrease in accounts receivable Decrease in inventories Decrease in prepaid expenses Decrease in salaries payable Depreciation For the Year Ended December 31, 20Y2 Gain on sale of investments Gain on sale of land Increase in accounts payable Increase in accounts receivable Increase in inventories Increase in prepaid expenses Increase in salaries payable Issuance of common stock for acquisition of building Labels and Amount Descriptions Decrease in inventories Decrease in prepaid expenses Decrease in salaries payable Depreciation For the Year Ended December 31, 20Y2 Gain on sale of investments Gain on sale of land Increase in accounts payable Increase in accounts receivable Increase in inventories Increase in prepaid expenses Increase in salaries payable Issuance of common stock for acquisition of building Issuance of common stock for purchase of equipment Issuance of common stock to retire bonds Loss on sale of investments Loss on sale of land Net cash flow from financing activities Net cash flow from investing activities Net cash flow from operating activities Net cash flow used for financing activities Net cash flow used for investing activities Net cash flow used for operating activities Net income Net loss Instructions Labels and Amount Descriptions Statement of Cash Flows Statement of Cash Flows Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the h minus sign to indicate net loss, cash outflows, cash payments, decreases in cash or any negative adjustments Whitman Co Statement of Cash Flows (Label) 1 Cash flows from operating activities: 2 3 Adjustments to reconcile net loss to net cash flow from operating activities: 4 5 5 Changes in current operating assets and liabilities: 7 8 9 10 11 17 15 Cash flows from investing activities: 14 Statement of Cash Flows 5 6 Changes in current operating assets and liabilities: 7 8 9 10 12 13 Cash flows from investing activities: 14 15 16 17 13 19 Cash flows from financing activities: 20 21 22 25 24 25 Cash at the beginning of the year 26 Cash at the end of the year