Statement of Cash Flows-Indirect Method The comparative balance sheet of Whitman Co. at December 31, 2012 and 20Y1, is as follows: Assets Dec. 31, 2012 Dec. 31, 20Y1 Cash Accounts receivable (net) $715,060 $771,350 650,700 593,500 Inventories Prepaid expenses Land Buildings Accumulated depreciation-buildings 986,780 908,130 22,880 27,170 245,980. 371,830 1,136,950 700,760 (321,780) (300,330) Equipment Accumulated depreciation-equipment Total assets 400,430 353,950 (110,120) (123,710) $3,726,880 $3,302,650 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $ 708,110 $747,240 Bonds payable 208,710 0 Common stock, $20 par 245,000 91,000 Paid-in capital: Excess of issue price over par-common stock. 589,000 435,000 Retained earnings 1,976,060 2,029,410