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, 20Y2 Dec. 31, 20Y1 Cash Accounts receivable (net) $ 641,230 $ 691,940 583,520 532,220 Inventories 884,900 814,360 Prepaid expenses 20,520 24,370 Land Buildings Accumulated depreciation-buildings 220,580 333,440 1,019,560 628,410 (288,550) (269,320) Equipment Accumulated depreciation-equipment Total assets 359,090 317,410 (98,750) (110,930) $3,342,100 $2,961,900 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $635,000 $ 670,090 Bonds payable 187,160 0 Common stock, $20 par 219,000 81,000 Paid-in capital: Excess of issue price over par-common stock 528,000 390,000 Retained earnings 1,772,940 1,820,810 Total liabilities and stockholders' equity $3,342,100 $2,961,900 The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2012 are as follows: ACCOUNT Land Date 20Y2 Item Jan. 1 Balance Apr. 20 Realized $105,000 cash from sale ACCOUNT NO. Balance Debit Credit Debit Credit 333,440 112,860 220,580