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

1		Dec. 31, 20Y2	Dec. 31, 20Y1
2	Assets
3	Cash	$917,690.00	$964,930.00
4	Accounts receivable (net)	828,620.00	762,860.00
5	Inventories	1,267,970.00	1,162,780.00
6	Prepaid expenses	29,050.00	36,010.00
7	Land	315,250.00	480,690.00
8	Buildings	1,462,990.00	901,470.00
9	Accumulated depreciation-buildings	(409,170.00)	(382,690.00)
10	Equipment	511,480.00	453,680.00
11	Accumulated depreciation-equipment	(142,100.00)	(159,400.00)
12	Total assets	$4,781,780.00	$4,220,330.00
13	Liabilities and Stockholders Equity
14	Accounts payable (merchandise creditors)	$923,380.00	$958,540.00
15	Bonds payable	269,000.00	0.00
16	Common stock, $25 par	323,000.00	118,000.00
17	Paid-in capital: Excess of issue price over parcommon stock	771,200.00	558,000.00
18	Retained earnings	2,495,200.00	2,585,790.00
19	Total liabilities and stockholders equity	$4,781,780.00	$4,220,330.00

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			480,690
Apr.	20	Realized $153,400 cash from sale		165,440	315,250

ACCOUNT Buildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance			901,470
Apr.	20	Acquired for cash	561,520		1,462,990

ACCOUNT Accumulated DepreciationBuildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				382,690
Dec.	31	Depreciation for year		26,480		409,170

ACCOUNT Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance			453,680
	26	Discarded, no salvage		46,270	407,410
Aug.	11	Purchased for cash	104,070		511,480

ACCOUNT Accumulated Depreciation Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				159,400
	26	Equipment discarded	46,270			113,130
Dec.	31	Depreciation for year		28,970		142,100

ACCOUNT Bonds Payable

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
May	1	Issued 20-year bonds		269,000		269,000

ACCOUNT Common Stock $25 par

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				118,000
Dec.	7	Issued 8,200 shares of common stock for $51 per share		205,000		323,000

ACCOUNT Paid-In Capital in Excess of ParCommon Stock

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				558,000
Dec.	7	Issued 8,200 shares of common stock for $51 per share		213,200		771,200

ACCOUNT Retained Earnings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				2,585,790
Dec.	31	Net loss	58,980			2,526,810
	31	Cash dividends	31,610			2,495,200

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Labels and Amount Descriptions
Cash paid for acquisition of building
Cash paid for dividends
Cash paid for merchandise
Cash paid for purchase of equipment
Cash received from customers
Cash received from issuance of bonds payable
Cash received from issuance of common stock
Cash received from land sold
Change in cash
December 31, 20Y2
Decrease in accounts payable
Decrease in accounts receivable
Decrease in inventories
Decrease in prepaid expenses
Decrease in salaries payable
Depreciation
For the Year Ended December 31, 20Y2
Gain on sale of investments
Gain on sale of land
Increase in accounts payable
Increase in accounts receivable
Increase in inventories
Increase in prepaid expenses
Increase in salaries payable
Issuance of common stock for acquisition of building
Issuance of common stock for purchase of equipment
Issuance of common stock to retire bonds
Loss on sale of investments
Loss on sale of land
Net cash flow from financing activities
Net cash flow from investing activities
Net cash flow from operating activities
Net cash flow used for financing activities
Net cash flow used for investing activities
Net cash flow used for operating activities
Net income
Net loss

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

Whitman Co.

Statement of Cash Flows

1	Cash flows from operating activities:
2
3	Adjustments to reconcile net loss to net cash flow from operating activities:
4
5
6	Changes in current operating assets and liabilities:
7
8
9
10
11
12
13	Cash flows from investing activities:
14
15
16
17
18
19	Cash flows from financing activities:
20
21
22
23
24
25	Cash at the beginning of the year
26	Cash at the end of the year