Statement of Cash FlowsIndirect Method

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

1. Dec. 31, 20Y2			Dec. 31, 20Y1
   Assets
   Cash	$ 570,740			$ 617,580
   Accounts receivable (net)	519,370			473,710
   Inventories	787,620			724,840
   Prepaid expenses	18,260			21,690
   Land	196,330			296,780
   Buildings	907,480			559,330
   Accumulated depreciation-buildings	(256,830)			(239,710)
   Equipment	319,610			282,520
   Accumulated depreciation-equipment	(87,890)			(98,740)
   Total assets	$2,974,690			$2,638,000
   Liabilities and Stockholders' Equity
   Accounts payable (merchandise creditors)	$ 565,190			$ 596,420
   Bonds payable	166,580			0
   Common stock, $20 par	194,000			72,000
   Paid-in capital: Excess of issue price over par-common stock	469,000			347,000
   Retained earnings	1,579,920			1,622,580
   Total liabilities and stockholders equity	$2,974,690			$2,638,000

   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			296,780
   Apr. 20	Realized $93,400 cash from sale		100,450	196,330

   ACCOUNT Buildings				ACCOUNT NO.
   				Balance
   Date	Item	Debit	Credit	Debit	Credit
   20Y2
   Jan. 1	Balance			559,330
   Apr. 20	Acquired for cash	348,150		907,480

   ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
   				Balance
   Date	Item	Debit	Credit	Debit	Credit
   20Y2
   Jan. 1	Balance				239,710
   Dec. 31	Depreciation for year		17,120		256,830

   ACCOUNT Equipment				ACCOUNT NO.
   				Balance
   Date	Item	Debit	Credit	Debit	Credit
   20Y2
   Jan. 1	Balance			282,520
   Jan. 26	Discarded, no salvage		31,100	251,420
   Aug. 11	Purchased for cash	68,190		319,610

   ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
   				Balance
   Date	Item	Debit	Credit	Debit	Credit
   20Y2
   Jan. 1	Balance				98,740
   Jan. 26	Equipment discarded	31,100			67,640
   Dec. 31	Depreciation for year		20,250		87,890

   ACCOUNT Bonds Payable				ACCOUNT NO.
   				Balance
   Date	Item	Debit	Credit	Debit	Credit
   20Y2
   May 1	Issued 15-year bonds		166,580		166,580

   ACCOUNT Common Stock, $20 par				ACCOUNT NO.
   				Balance
   Date	Item	Debit	Credit	Debit	Credit
   20Y2
   Jan. 1	Balance				72,000
   Dec. 7	Issued 6,100 shares of common stock for $40 per share		122,000		194,000

   ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
   				Balance
   Date	Item	Debit	Credit	Debit	Credit
   20Y2
   Jan. 1	Balance				347,000
   Dec. 7	Issued 6,100 shares of common stock for $40 per share		122,000		469,000

   ACCOUNT Retained Earnings				ACCOUNT NO.
   				Balance
   Date	Item	Debit	Credit	Debit	Credit
   20Y2
   Jan. 1	Balance				1,622,580
   Dec. 31	Net loss	20,540			1,602,040
   Dec. 31	Cash dividends	22,120			1,579,920

   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		$