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	$ 579,700			$ 622,980
Accounts receivable (net)	527,530			481,150
Inventories	799,990			736,220
Prepaid expenses	18,550			22,030
Land	199,420			301,440
Buildings	921,720			568,110
Accumulated depreciation-buildings	(260,870)			(243,470)
Equipment	324,630			286,950
Accumulated depreciation-equipment	(89,270)			(100,290)
Total assets	$3,021,400			$2,675,120
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 574,070			$ 605,790
Bonds payable	169,200			0
Common stock, $20 par	200,000			74,000
Paid-in capital: Excess of issue price over par-common stock	478,000			352,000
Retained earnings	1,600,130			1,643,330
Total liabilities and stockholders' equity	$3,021,400			$2,675,120

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			301,440
Apr. 20	Realized $94,900 cash from sale		102,020	199,420

ACCOUNT Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			568,110
Apr. 20	Acquired for cash	353,610		921,720

ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				243,470
Dec. 31	Depreciation for year		17,400		260,870

ACCOUNT Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			286,950
Jan. 26	Discarded, no salvage		31,600	255,350
Aug. 11	Purchased for cash	69,280		324,630

ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				100,290
Jan. 26	Equipment discarded	31,600			68,690
Dec. 31	Depreciation for year		20,580		89,270

ACCOUNT Bonds Payable				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 10-year bonds		169,200		169,200

ACCOUNT Common Stock, $20 par				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				74,000
Dec. 7	Issued 6,300 shares of common stock for $40 per share		126,000		200,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				352,000
Dec. 7	Issued 6,300 shares of common stock for $40 per share		126,000		478,000

ACCOUNT Retained Earnings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				1,643,330
Dec. 31	Net loss	20,800			1,622,530
Dec. 31	Cash dividends	22,400			1,600,130

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:
	$fill in the blank 2
Adjustments to reconcile net loss to net cashflow from operating activities:
	fill in the blank 4
	fill in the blank 6
Changes in current operating assets and liabilities:
	fill in the blank 8
	fill in the blank 10
	fill in the blank 12
	fill in the blank 14
Net cash flow used for operating activities		$fill in the blank 15
Cash flows from investing activities:
	$fill in the blank 17
	fill in the blank 19
	fill in the blank 21
Net cash flow used for investing activities		fill in the blank 22
Cash flows from financing activities:
	$fill in the blank 24
	fill in the blank 26
	fill in the blank 28
Net cash flow from financing activities		fill in the blank 29
		$fill in the blank 31
Cash at the beginning of the year		fill in the blank 32
Cash at the end of the year		$fill in the blank 33