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	$ 764,910			$ 826,650
Accounts receivable (net)	696,070			634,880
Inventories	1,055,580			971,440
Prepaid expenses	24,480			29,070
Land	263,130			397,750
Buildings	1,216,210			749,610
Accumulated depreciation-buildings	(344,210)			(321,260)
Equipment	428,350			378,630
Accumulated depreciation-equipment	(117,800)			(132,330)
Total assets	$3,986,720			$3,534,440
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 757,480			$ 799,330
Bonds payable	223,260			0
Common stock, $20 par	261,000			97,000
Paid-in capital: Excess of issue price over par-common stock	629,000			465,000
Retained earnings	2,115,980			2,173,110
Total liabilities and stockholders equity	$3,986,720			$3,534,440

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			397,750
Apr. 20	Realized $125,200 cash from sale		134,620	263,130

ACCOUNT Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			749,610
Apr. 20	Acquired for cash	466,600		1,216,210

ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				321,260
Dec. 31	Depreciation for year		22,950		344,210

ACCOUNT Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			378,630
Jan. 26	Discarded, no salvage		41,600	337,030
Aug. 11	Purchased for cash	91,320		428,350

ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				132,330
Jan. 26	Equipment discarded	41,600			90,730
Dec. 31	Depreciation for year		27,070		117,800

ACCOUNT Bonds Payable				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 10-year bonds		223,260		223,260

ACCOUNT Common Stock, $20 par				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				97,000
Dec. 7	Issued 8,200 shares of common stock for $40 per share		164,000		261,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				465,000
Dec. 7	Issued 8,200 shares of common stock for $40 per share		164,000		629,000

ACCOUNT Retained Earnings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				2,173,110
Dec. 31	Net loss	27,510			2,145,600
Dec. 31	Cash dividends	29,620			2,115,980

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:
	$
Adjustments to reconcile net loss to net cash flow from operating activities:
Changes in current operating assets and liabilities:
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		$