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	$918,000.00	$964,640.00
4	Accounts receivable (net)	828,530.00	761,860.00
5	Inventories	1,267,840.00	1,162,650.00
6	Prepaid expenses	28,510.00	35,920.00
7	Land	316,660.00	480,600.00
8	Buildings	1,462,690.00	901,830.00
9	Accumulated depreciation-buildings	(409,440.00)	(381,440.00)
10	Equipment	513,200.00	454,090.00
11	Accumulated depreciation-equipment	(141,800.00)	(158,860.00)
12	Total assets	$4,784,190.00	$4,221,290.00
13	Liabilities and Stockholders Equity
14	Accounts payable (merchandise creditors)	$922,640.00	$958,010.00
15	Bonds payable	271,000.00	0.00
16	Common stock, $25 par	307,000.00	117,000.00
17	Paid-in capital: Excess of issue price over parcommon stock	754,600.00	557,000.00
18	Retained earnings	2,528,950.00	2,589,280.00
19	Total liabilities and stockholders equity	$4,784,190.00	$4,221,290.00

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			480,600
Apr.	20	Realized $151,550 cash from sale		163,940	316,660

ACCOUNT Buildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance			901,830
Apr.	20	Acquired for cash	560,860		1,462,690

ACCOUNT Accumulated DepreciationBuildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				381,440
Dec.	31	Depreciation for year		28,000		409,440

ACCOUNT Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance			454,090
	26	Discarded, no salvage		46,790	407,300
Aug.	11	Purchased for cash	105,900		513,200

ACCOUNT Accumulated Depreciation Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				158,860
	26	Equipment discarded	46,790			112,070
Dec.	31	Depreciation for year		29,730		141,800

ACCOUNT Bonds Payable

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
May	1	Issued 20-year bonds		271,000		271,000

ACCOUNT Common Stock $25 par

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				117,000
Dec.	7	Issued 7,600 shares of common stock for $51 per share		190,000		307,000

ACCOUNT Paid-In Capital in Excess of ParCommon Stock

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				557,000
Dec.	7	Issued 7,600 shares of common stock for $51 per share		197,600		754,600

ACCOUNT Retained Earnings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				2,589,280
Dec.	31	Net loss	28,750			2,560,530
	31	Cash dividends	31,580			2,528,950

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.

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

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