The comparative balance sheet of Whitman Co. at December 31, 2016 and 2015, is as follows:

1		Dec. 31, 2016	Dec. 31, 2015
2	Assets
3	Cash	$918,790.00	$964,070.00
4	Accounts receivable (net)	828,170.00	761,040.00
5	Inventories	1,268,620.00	1,163,480.00
6	Prepaid expenses	29,330.00	34,930.00
7	Land	316,340.00	480,430.00
8	Buildings	1,461,710.00	900,600.00
9	Accumulated depreciation-buildings	(408,700.00)	(382,020.00)
10	Equipment	511,330.00	455,280.00
11	Accumulated depreciation-equipment	(140,790.00)	(158,240.00)
12	Total assets	$4,784,800.00	$4,219,570.00
13	Liabilities and Stockholders Equity
14	Accounts payable (merchandise creditors)	$922,480.00	$959,030.00
15	Bonds payable	269,000.00	0.00
16	Common stock, $25 par	310,500.00	118,000.00
17	Paid-in capital: Excess of issue price over parcommon stock	736,100.00	559,000.00
18	Retained earnings	2,546,720.00	2,583,540.00
19	Total liabilities and stockholders equity	$4,784,800.00	$4,219,570.00

The noncurrent asset, noncurrent liability, and stockholders equity accounts for 2016 are as follows:

ACCOUNT Land

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
2016
Jan.	1	Balance			480,430
Apr.	20	Realized $152,020 cash from sale		164,090	316,340

ACCOUNT Buildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
2016
Jan.	1	Balance			900,600
Apr.	20	Acquired for cash	561,110		1,461,710

ACCOUNT Accumulated DepreciationBuildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
2016
Jan.	1	Balance				382,020
Dec.	31	Depreciation for year		26,680		408,700

ACCOUNT Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
2016
Jan.	1	Balance			455,280
	26	Discarded, no salvage		47,170	408,110
Aug.	11	Purchased for cash	103,220		511,330

ACCOUNT Accumulated Depreciation Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
2016
Jan.	1	Balance				158,240
	26	Equipment discarded	47,170			111,070
Dec.	31	Depreciation for year		29,720		140,790

ACCOUNT Bonds Payable

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
2016
May	1	Issued 20-year bonds		269,000		269,000

ACCOUNT Common Stock $25 par

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
2016
Jan.	1	Balance				118,000
Dec.	7	Issued 7,700 shares of common stock for $48 per share		192,500		310,500

ACCOUNT Paid-In Capital in Excess of ParCommon Stock

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
2016
Jan.	1	Balance				559,000
Dec.	7	Issued 7,700 shares of common stock for $48 per share		177,100		736,100

ACCOUNT Retained Earnings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
2016
Jan.	1	Balance				2,583,540
Dec.	31	Net loss	5,160			2,578,380
	31	Cash dividends	31,660			2,546,720

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. In the operating activities section, use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow, if required. In the investing and financing activities section, use a minus sign only to indicate a NET cash outflow for the section.

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
December 31, 2016
Decrease in accounts payable
Decrease in accounts receivable
Decrease in cash
Decrease in inventories
Decrease in prepaid expenses
Decrease in salaries payable
Depreciation
For the Year Ended December 31, 2016
Gain on sale of investments
Gain on sale of land
Increase in accounts payable
Increase in accounts receivable
Increase in cash
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

Please follow the format of the below chart

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