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	$917,060.00	$964,640.00
4	Accounts receivable (net)	828,490.00	761,370.00
5	Inventories	1,269,190.00	1,161,990.00
6	Prepaid expenses	30,160.00	34,400.00
7	Land	316,470.00	480,110.00
8	Buildings	1,463,160.00	900,900.00
9	Accumulated depreciation-buildings	(408,380.00)	(381,900.00)
10	Equipment	511,860.00	454,790.00
11	Accumulated depreciation-equipment	(141,520.00)	(159,060.00)
12	Total assets	$4,786,490.00	$4,217,240.00
13	Liabilities and Stockholders Equity
14	Accounts payable (merchandise creditors)	$922,800.00	$958,260.00
15	Bonds payable	270,000.00	0.00
16	Common stock, $25 par	327,000.00	117,000.00
17	Paid-in capital: Excess of issue price over parcommon stock	752,200.00	559,000.00
18	Retained earnings	2,514,490.00	2,582,980.00
19	Total liabilities and stockholders equity	$4,786,490.00	$4,217,240.00

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			480,110
Apr.	20	Realized $151,080 cash from sale		163,640	316,470

ACCOUNT Buildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance			900,900
Apr.	20	Acquired for cash	562,260		1,463,160

ACCOUNT Accumulated DepreciationBuildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				381,900
Dec.	31	Depreciation for year		26,480		408,380

ACCOUNT Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance			454,790
	26	Discarded, no salvage		47,490	407,300
Aug.	11	Purchased for cash	104,560		511,860

ACCOUNT Accumulated Depreciation Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				159,060
	26	Equipment discarded	47,490			111,570
Dec.	31	Depreciation for year		29,950		141,520

ACCOUNT Bonds Payable

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
May	1	Issued 20-year bonds		270,000		270,000

ACCOUNT Common Stock $25 par

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				117,000
Dec.	7	Issued 8,400 shares of common stock for $48 per share		210,000		327,000

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 8,400 shares of common stock for $48 per share		193,200		752,200

ACCOUNT Retained Earnings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				2,582,980
Dec.	31	Net loss	36,020			2,546,960
	31	Cash dividends	32,470			2,514,490

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

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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