The comparative balance sheet of Whitman Co. at December 31, 2012 and 2041, is as follows: Dec. 31, 20Y2 Dec. 31, 2011 Assets $ 705,540 $ 756,880 585,600 642,040 896,040 26,810 Cash Accounts receivable (net) Inventories Prepaid expenses Land Buildings Accumulated depreciation buildings Equipment Accumulated depreciation equipment Total assets Liabilities and Stockholders' Equity Accounts payable (merchandise creditors) Bonds payable Common stock, $20 par 973,650 22,580 242,710 1,121,810 (317,490) 395,100 (108,650) $3,677,290 366,880 691,430 (296,330) 349,240 (122,060) $3,254,490 $.737,290 $ 698,690 205,930 244,000 0 90,000 Excess of pald-in capital over par 583,000 429,000 Retained earnings 1,945,670 1,998,200 Total liabilities and stockholders' equity $3,677,290 $3,254,490 The noncurrent asset, noncurrent liability, and stockholders' equity accounts for 2012 are as follows: ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance Apr. 20 Realized $115,500 cash from sale 124,170 366,880 242,7101 ACCOUNT Buildings ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance Apr. 20Acquired for cash 691,430 1,121,810 430,380 ACCOUNT Accumul ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 296,330 Jan. 1 Balance Dec. 31 Depreciation for year 21,160 317,490 ACCOUNT Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance 349,240 38,400 310,840 Jan. 26 Discarded, no salvage Aug. 11 Purchased for cash 84,260 395,100 ACCOUNT Accumulated Depreciation-Equipment ACCOUNT NO. Balance Debit Credit Date Item Debit Credit 2012 Jan. 1 Balance 38,400 Jan. 26 Equipment discarded Dec. 31 Depreciation for year 122,060 83,660 108,650 24,990 ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 May 1 Issued 15-year bonds 205,930 205,930 ACCOUNT Common Stock, $20 par ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan. 1 Balance Dec. 7 issued 7,700 shares of common stock for $40 per share 90,000 244,000 154,000 ACCOUNT Paid-in Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Date Item Debit Credit Debit Credi 20Y2 Jan. 1 Balance 429,000 154,000 583,000 Dec. 7 Issued 7,700 shares of common stock for $40 per share ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 20Y2 Jan. 1 Balance 1,998, 200 Dec. 31 Net loss 25,290 1,972,910 Dec. 31 Cash dividends 27,240 1,945,670 Roured Required: Prepare a statement of cash flows, using the Indirect method of presenting cash flows from (used for) 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, 2012 Cashows from (used for) operating activities: Adjustments to reconcile net loss to net cash flows from (used for operating activities Changes in current operating assets and liabilities: Net cash flows used for operating activities Cash tows from used to investing activities Cash flows from (used for investing activities: Net cash flows used for investing activities Cash flows from (used for) financing activities: 101 100 o Net cash flows from financing activities Cash balance, January 1, 20Y2 Cash balance, December 31, 2012