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	$ 914,760			$ 984,770
Accounts receivable (net)	832,430			759,250
Inventories	1,262,370			1,161,750
Prepaid expenses	29,270			34,760
Land	314,680			475,680
Buildings	1,454,470			896,460
Accumulated depreciation-buildings	(411,640)			(384,200)
Equipment	512,270			452,810
Accumulated depreciation-equipment	(140,870)			(158,250)
Total assets	$4,767,740			$4,223,030
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 905,870			$ 955,920
Bonds payable	266,990			0
Common stock, $20 par	314,000			116,000
Paid-in capital: Excess of issue price over par-common stock	754,000			556,000
Retained earnings	2,526,880			2,595,110
Total liabilities and stockholders equity	$4,767,740			$4,223,030

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			475,680
Apr. 20	Realized $149,700 cash from sale		161,000	314,680

ACCOUNT Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			896,460
Apr. 20	Acquired for cash	558,010		1,454,470

ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				384,200
Dec. 31	Depreciation for year		27,440		411,640

ACCOUNT Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			452,810
Jan. 26	Discarded, no salvage		49,800	403,010
Aug. 11	Purchased for cash	109,260		512,270

ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				158,250
Jan. 26	Equipment discarded	49,800			108,450
Dec. 31	Depreciation for year		32,420		140,870

ACCOUNT Bonds Payable				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 10-year bonds		266,990		266,990

ACCOUNT Common Stock, $20 par				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				116,000
Dec. 7	Issued 9,900 shares of common stock for $40 per share		198,000		314,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				556,000
Dec. 7	Issued 9,900 shares of common stock for $40 per share		198,000		754,000

ACCOUNT Retained Earnings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				2,595,110
Dec. 31	Net loss	32,850			2,562,260
Dec. 31	Cash dividends	35,380			2,526,880

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 outflows, 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 cash flow from operating activities:
Depreciation
Loss on sale of land
Changes in current operating assets and liabilities:
Increase in accounts receivable
Increase in inventories
Decrease in prepaid expenses
Decrease in accounts payable
Net cash flow used for operating activities		$
Cash flows from (used for) investing activities:
	$
Net cash 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
Cash at the end of the year		$