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	$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 20Y2 are as follows:

ACCOUNT Land

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
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
20Y2
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
20Y2
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
20Y2
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
20Y2
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
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 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
20Y2
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
20Y2
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. Use the minus sign to indicate cash outflows.

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 outflows.

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 (used for) investing activities:
14
15
16
17
18
19	Cash flows from (used for) financing activities:
20
21
22
23
24
25	Cash at the beginning of the year
26	Cash at the end of the year