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

Dec. $31,20$Y$2$ Dec. $31,20$Y$1$

Assets

Cash $ $660,550$ $ $713,080$

Accounts receivable $($net$)601,100548,260$

Inventories $911,560838,900$

Prepaid expenses $21,14025,100$

Land $227,230343,490$

Buildings $1,050,270647,340$

Accumulated depreciation$-$buildings $(297,250)(277,430)$

Equipment $369,910326,970$

Accumulated depreciation$-$equipment $(101,720)(114,280)$

Total assets $$3,442,790$ $$3,051,430$

Liabilities and Stockholders' Equity

Accounts payable $($merchandise creditors$)$ $ $654,130$ $ $690,270$

Bonds payable $192,8000$

Common stock, $$20$ par $226,00084,000$

Paid$-$in capital: Excess of issue price over par$-$common stock $544,000402,000$

Retained earnings $1,825,8601,875,160$

Total liabilities and stockholders$$ equity $$3,442,790$ $$3,051,430$

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 $343,490$

Apr. $20$ Realized $$108,100$ cash from sale $116,260227,230$

ACCOUNT Buildings ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $647,340$

Apr. $20$ Acquired for cash $402,9301,050,270$

ACCOUNT Accumulated Depreciation$-$Buildings ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $277,430$

Dec. $31$ Depreciation for year $19,820297,250$

ACCOUNT Equipment ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $326,970$

Jan. $26$ Discarded, no salvage $36,000290,970$

Aug. $11$ Purchased for cash $78,940369,910$

ACCOUNT Accumulated Depreciation$-$Equipment ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $114,280$

Jan. $26$ Equipment discarded $36,00078,280$

Dec. $31$ Depreciation for year $23,440101,720$

ACCOUNT Bonds Payable ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

May $1$ Issued $15-$year bonds $192,800192,800$

ACCOUNT Common Stock, $$20$ par ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $84,000$

Dec. $7$ Issued $7,100$ shares of common

stock for $$40$ per share $142,000226,000$

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 $402,000$

Dec. $7$ Issued $7,100$ shares of common

stock for $$40$ per share $142,000544,000$

ACCOUNT Retained Earnings ACCOUNT NO$.$

Balance

Date Item Debit Credit Debit Credit

$20$Y$2$

Jan. $1$ Balance $1,875,160$

Dec. $31$ Net loss $23,7401,851,420$

Dec. $31$ Cash dividends $25,5601,825,860$

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.