The comparative balance sheet of Whitman Co$.$ at December $31,20$Y$2$ and $20$Y$1,$ is as follows:

$1$

Dec. $31,20$Y$2$

Dec. $31,20$Y$1$

$2$

Assets

$3$

Cash

$$918,000\mathrm{.}00$

$$964,800\mathrm{.}00$

$4$

Accounts receivable $($net$)$

$828,900\mathrm{.}00$

$761,940\mathrm{.}00$

$5$

Inventories

$1,268,460\mathrm{.}00$

$1,162,980\mathrm{.}00$

$6$

Prepaid expenses

$29,340\mathrm{.}00$

$35,100\mathrm{.}00$

$7$

Land

$315,900\mathrm{.}00$

$479,700\mathrm{.}00$

$8$

Buildings

$1,462,500\mathrm{.}00$

$900,900\mathrm{.}00$

$9$

Accumulated depreciation$-$buildings

$(408,600\mathrm{.}00)$

$(382,320\mathrm{.}00)$

$10$

Equipment

$512,280\mathrm{.}00$

$454,680\mathrm{.}00$

$11$

Accumulated depreciation$-$equipment

$(141,300\mathrm{.}00)$

$(158,760\mathrm{.}00)$

$12$

Total assets

$$4,785,480\mathrm{.}00$

$$4,219,020\mathrm{.}00$

$13$

Liabilities and Stockholders$$ Equity

$14$

Accounts payable $($merchandise creditors$)$

$$922,500\mathrm{.}00$

$$958,320\mathrm{.}00$

$15$

Bonds payable

$270,000\mathrm{.}00$

$0\mathrm{.}00$

$16$

Common stock, $$25$ par

$317,000\mathrm{.}00$

$117,000\mathrm{.}00$

$17$

Paid$-$in capital in excess of par$$common stock

$758,000\mathrm{.}00$

$558,000\mathrm{.}00$

$18$

Retained earnings

$2,517,980\mathrm{.}00$

$2,585,700\mathrm{.}00$

$19$

Total liabilities and stockholders$$ equity

$$4,785,480\mathrm{.}00$

$$4,219,020\mathrm{.}00$

The noncurrent asset, noncurrent liability, and stockholders$$ equity accounts for $20$Y$2$ are as follows:

ACCOUNT Land

ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $479,700$

Apr. $20$ Realized $$151,200$ cash from sale $163,800315,900$

ACCOUNT Buildings

ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $900,900$

Apr. $20$ Acquired for cash $561,6001,462,500$

ACCOUNT Accumulated Depreciation$$Buildings

ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $382,320$

Dec. $31$ Depreciation for year $26,280408,600$

ACCOUNT Equipment

ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $454,680$

$26$ Discarded, no salvage $46,800407,880$

Aug. $11$ Purchased for cash $104,400512,280$

ACCOUNT Accumulated Depreciation$$Equipment

ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $158,760$

$26$ Equipment discarded $46,800111,960$

Dec. $31$ Depreciation for year $29,340141,300$

ACCOUNT Bonds Payable

ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

May $1$ Issued $20-$year bonds $270,000270,000$

ACCOUNT Common Stock $$25$ par

ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $117,000$

Dec. $7$ Issued $8,000$ shares of common stock for $$50$ per share $200,000317,000$

ACCOUNT Paid$-$In Capital in Excess of Par$$Common Stock

ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $558,000$

Dec. $7$ Issued $8,000$ shares of common stock for $$50$ per share $200,000758,000$

ACCOUNT Retained Earnings

ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $2,585,700$

Dec. $31$ Net loss $35,3202,550,380$

$31$ Cash dividends $32,4002,517,980$

Required:

Prepare a statement of cash flows, using the indirect method of presenting cash flows from $($used for$)$ operating activities.