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	$ 575,690			$ 620,980
Accounts receivable (net)	523,880			477,820
Inventories	794,450			731,130
Prepaid expenses	18,420			21,880
Land	198,040			299,360
Buildings	915,350			564,180
Accumulated depreciation-buildings	(259,060)			(241,790)
Equipment	322,390			284,970
Accumulated depreciation-equipment	(88,660)			(99,590)
Total assets	$3,000,500			$2,658,940
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 570,100			$ 601,600
Bonds payable	168,030			0
Common stock, $20 par	197,000			73,000
Paid-in capital: Excess of issue price over par-common stock	474,000			350,000
Retained earnings	1,591,370			1,634,340
Total liabilities and stockholders' equity	$3,000,500			$2,658,940

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			299,360
Apr. 20	Realized $94,200 cash from sale		101,320	198,040

ACCOUNT Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			564,180
Apr. 20	Acquired for cash	351,170		915,350

ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				241,790
Dec. 31	Depreciation for year		17,270		259,060

ACCOUNT Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			284,970
Jan. 26	Discarded, no salvage		31,300	253,670
Aug. 11	Purchased for cash	68,720		322,390

ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				99,590
Jan. 26	Equipment discarded	31,300			68,290
Dec. 31	Depreciation for year		20,370		88,660

ACCOUNT Bonds Payable				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 20-year bonds		168,030		168,030

ACCOUNT Common Stock, $20 par				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				73,000
Dec. 7	Issued 6,200 shares of common stock for $40 per share		124,000		197,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				350,000
Dec. 7	Issued 6,200 shares of common stock for $40 per share		124,000		474,000

ACCOUNT Retained Earnings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				1,634,340
Dec. 31	Net loss	20,690			1,613,650
Dec. 31	Cash dividends	22,280			1,591,370

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:
	$
Adjustments to reconcile net loss to net cashflow from operating activities:
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