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

	Dec. 31, 20Y2			Dec. 31, 20Y1
Assets
Cash	$ 841,890			$ 906,790
Accounts receivable (net)	766,120			698,770
Inventories	1,161,810			1,069,200
Prepaid expenses	26,940			31,990
Land	289,610			437,780
Buildings	1,338,610			825,050
Accumulated depreciation-buildings	(378,850)			(353,590)
Equipment	471,460			416,740
Accumulated depreciation-equipment	(129,650)			(145,650)
Total assets	$4,387,940			$3,887,080
Liabilities and Stockholders' Equity
Accounts payable (merchandise creditors)	$ 833,710			$ 879,780
Bonds payable	245,720			0
Common stock, $20 par	289,000			107,000
Paid-in capital: Excess of issue price over par-common stock	694,000			512,000
Retained earnings	2,325,510			2,388,300
Total liabilities and stockholders' equity	$4,387,940			$3,887,080

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			437,780
Apr. 20	Realized $137,800 cash from sale		148,170	289,610

ACCOUNT Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			825,050
Apr. 20	Acquired for cash	513,560		1,338,610

ACCOUNT Accumulated Depreciation-Buildings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				353,590
Dec. 31	Depreciation for year		25,260		378,850

ACCOUNT Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			416,740
Jan. 26	Discarded, no salvage		45,800	370,940
Aug. 11	Purchased for cash	100,520		471,460

ACCOUNT Accumulated Depreciation-Equipment				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				145,650
Jan. 26	Equipment discarded	45,800			99,850
Dec. 31	Depreciation for year		29,800		129,650

ACCOUNT Bonds Payable				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 15-year bonds		245,720		245,720

ACCOUNT Common Stock, $20 par				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				107,000
Dec. 7	Issued 9,100 shares of common stock for $40 per share		182,000		289,000

ACCOUNT Paid-in Capital in Excess of Par-Common Stock				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				512,000
Dec. 7	Issued 9,100 shares of common stock for $40 per share		182,000		694,000

ACCOUNT Retained Earnings				ACCOUNT NO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				2,388,300
Dec. 31	Net loss	30,230			2,358,070
Dec. 31	Cash dividends	32,560			2,325,510

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 out flows, cash payments, decreases in cash, or any negative adjustments.

1. Whitman Co.
   Statement of Cash Flows
   For the Year Ended December 31, 20Y2
   Cash flows from operating activities:
   Net loss	$
   Adjustments to reconcile net loss to net cashflow from operating activities:
   Depreciation
   Loss on sale of land
   Changes in current operating assets and liabilities:
   Increase in accounts receivable
   Increase in inventories
   Decrease in prepaid expenses
   Decrease in accounts payable
   Net cash flow used for operating activities		$
   Cash flows from investing activities:
   Cash received from land sold	$
   Cash paid for acquisition of building
   Cash paid for purchase of equipment
   Net cash flow used for investing activities
   Cash flows from financing activities:
   Cash received from issuance of bonds payable	$
   Cash received from issuance of common stock
   Cash paid for dividends
   Net cash flow from financing activities
   		$
   Cash at the beginning of the year
   Cash at the end of the year		$