Statement of Cash Flows-Indirect Method The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 2041, is as follows: Dec. 31, 2012 Dec 31, 2011 Assets Cash $ 921,170 $ 994,500 Accounts receivable (net) 838,260 764,570 Inventories 1,271,210 1,169,890 Prepaid expenses 29,480 35,000 Land 316,880 479,010 Buildings 1,464,660 902,750 Accumulated depreciation-buildings (414,530) (386,890) Equipment 515,860 455,980 Accumulated depreciation equipment (141,860) (159,360) Total assets $4,801,130 $4,255,450 Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) $912,210 $ 962,620 Bonds payable 268,860 Common stock, $20 par 315,000 117,000 Paid-in capital: Excess of issue price over par.common stock 560,000 Retained earnings 2,547,060 2,615,830 Total liabilities and stockholders' equity $4,801,130 $4,255,450 758,000 The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2012 are as follows ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 479,010 Apr. 20 Realized $150,800 cash from sale 162,130 316,880 ACCOUNT Buildings ACCOUNT NO. Balance Debit Credit Debit Credit Date Item 2012 Jan. 1 Balance Apr. 20 Acquired for cash 561,910 902,750 1,464,650 ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Debit Balance Debit Credit Credit Date Item 2012 Jan. 1 Balance Dec 31 Depreciation for year 386,890 414,530 27,640 Ched: My Work ACCOUNT Equipment ACCOUNT NO. Balance Debit Credit Debit Credit Date Item 2012 Jan. 1 Balance Jan. 26 Discarded, no salvage Aug. 11 Purchased for cash 50,200 455,980 405,780 515,860 110,080 ACCOUNT Accumulated Depreciation Equipment ACCOUNT NO. Balance Debit Credit Debit Credit Date Item 2012 Jan. 1 Balance Jan. 26 Equipment discarded Dec 31 Depreciation for year 50,200 159,360 109.160 141,860 32,700 ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 May 1 Issued 15-year bonds 268,660 268,860 ALLUUNI Common STOCR, 20 Mar Balance Debit Debit Credit Date Item 2012 Jan. 1 Balance Dec. 7 issued 9,900 shares of common stock for $40 per share 117,000 315,000 198,000 ACCOUNT Paid-in Capital in Excess of Par-Common Stock ACCOUNT NO. Date Item Balance Debit Credit Debit Credit 2012 Jan. 1 Balance Dec. 7 issued 9,900 shares of common stock for $40 per share 560,000 758,000 198,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance Dec 31 Not loss 33,110 2,615,830 2,582,720 Cash Flows from operating activities: Net loss Adjustments to reconcile net loss to net cash flow from operating activities: Changes in current operating assets and lablities: Net cash flow used for operating activities Cash flows from (used for) investing activities: I ll ll lll u D D DD Nutcash flow used for investing activities Cash flows from (used for) financing activities: Net cash flow from financing activities Cash at the beginning of the year Net cash flow from financing activities Cash at the beginning of the year Cash at the end of the year Net cash flow from financing activities Cash at the beginning of the year Cash at the end of the year