The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 20Y2 Dec. 31, 20Y1 Assets $964,640.00 917,060.00 3 Cash 828,490.00 761,370.00 Accounts receivable (net) 4 1,269,190.00 5 Inventories 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 (408,380.00) 9 Accumulated depreciation-buildings (381,900.00) 511,860.00 454,790.00 10 Equipment (159,060.00) (141,520.00) 11 Accumulated depreciation-equipment ACCOUNT Land ACCOUNT NO. Balance Date Item Debit Credit DebiCredit 20Y2 Jan. 1 Balance 480,110 Apr. 20 Realized $151,080 cash from sale163,640 316,470 ACCOUNT Buildings ACCOUNT NO. Balance Item Date Debit Credit DebitCredit 20Y2 Jan. 1 Balance 900,900 Apr. 20 Acquired for cash 562,260 1,463,160 Apr. 20 Acquired for cash 562,260 1,463,160 ACCOUNT Accumulated Depreciation-Buildings ACCOUNT NO. Balance Credit Date tem Debit CreditDebit 20Y2 381,900 Jan. 1 Balance Dec. 31 Depreciation for year 26,480 408,380 ACCOUNT Equipment ACCOUNT NO. Balance Debit Credit DbiCredit Date Item 20Y2 ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO Balance Date Item Debit Credit Debit Credit 20Y2 559,000 Jan. 1 Balance Dec. 7 Issued 8,400 shares of common stock for $48 per share 193,200 752,200 ACCOUNT Retained Earnings ACCOUNT NO Balance Date Debit Credit Debit Credit Item 20Y2 Jan. 1 Balance 2,582,980 2,546,960 Dec. 31 Net loss 36,020 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 (Label) 1Cash flows from operating activities 2 Net loss Adjustments to reconcile net loss to net cash flow from operating activities: 4Loss on sale of land 5 Depreciation 6Changes in current operating assets and liabilities: 7 Increase in accounts receivable 8 ncrease in inventories