Statement of Cash FlowsIndirect Method

The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows:

	Dec. 31, 20Y2			Dec. 31, 20Y1
Assets
Cash	$ 719,960			$ 778,820
Accounts receivable (net)	655,160			597,570
Inventories	993,540			914,350
Prepaid expenses	23,040			27,360
Land	247,670			374,380
Buildings	1,144,740			705,560
Accumulated depreciation-buildings	(323,980)			(302,380)
Equipment	403,180			356,380
Accumulated depreciation-equipment	(110,870)			(124,550)
Total assets	$3,752,440			$3,327,490
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 712,960			$ 752,360
Bonds payable	210,140			0
Common stock, $20 par	245,000			91,000
Paid-in capital: Excess of issue price over par-common stock	592,000			438,000
Retained earnings	1,992,340			2,046,130
Total liabilities and stockholders' equity	$3,752,440			$3,327,490

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			374,380
Apr. 20	Realized $117,800 cash from sale		126,710	247,670

ACCOUNT Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			705,560
Apr. 20	Acquired for cash	439,180		1,144,740

ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				302,380
Dec. 31	Depreciation for year		21,600		323,980

ACCOUNT Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			356,380
Jan. 26	Discarded, no salvage		39,200	317,180
Aug. 11	Purchased for cash	86,000		403,180

ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				124,550
Jan. 26	Equipment discarded	39,200			85,350
Dec. 31	Depreciation for year		25,520		110,870

ACCOUNT Bonds Payable				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 10-year bonds		210,140		210,140

ACCOUNT Common Stock, $20 par				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				91,000
Dec. 7	Issued 7,700 shares of common stock for $40 per share		154,000		245,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				438,000
Dec. 7	Issued 7,700 shares of common stock for $40 per share		154,000		592,000

ACCOUNT Retained Earnings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				2,046,130
Dec. 31	Net loss	25,900			2,020,230
Dec. 31	Cash dividends	27,890			1,992,340

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Use the minus sign to indicate cash out flows, 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 operating activities:
Net loss	$
Adjustments to reconcile net loss to net cashflow from operating activities:
Depreciation
Changes in current operating assets and liabilities:
Net cash flow used for operating activities		$
Cash flows from investing activities:
	$
Net cash flow used for investing activities
Cash flows from financing activities:
	$
Net cash flow from financing activities
		$
Cash at the beginning of the year
Cash at the end of the year