Statement of cash flows Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions The comparative balance sheet of Whitman Co. at December 31, 20Y2 and 20Y1, is as follows: Dec. 31, 2012 Dec. 31, 2011 Assets Cash $918,000,00 $964,800.00 Accounts receivable (net) 828,900.00 761,940.00 Inventories Prepaid expenses 1.268,460.00 1.162.980.00 29.340.00 35,100.00 Land 315.900.00 479,700.00 Buildings 1.462.500.00 900,900.00 Accumulated depreciation buildings Equipment (408.600.00) (582.320.00) 512.280.00 454,680.00 11 Accumulated deprecation-equipment (141.300.00) (158.760,00 Statement of cash flows Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions 11 Accumulated depreciation equipment (141,500.00) (158,760.00) 12 Total assets $4,785.480.00 $4,219,020.00 R 15 Liabilities and Stockholders' Equity 34 Accounts payable (merchandise creditors) $922,500,00 $958.520.00 15 Bonds payable 270,000.00 0.00 #A 14 Common stock, $25 par 1 Excess of paid-in capital over par 1 Retained eamings Total liabilities and stockholders' equity 317,000.00 117.000.00 758.000.00 558,000.00 2.517,980.00 2.585.700.00 $4,785.480.00 $4,219,020.00 The noncurrent asset, noncurrent liability, and stockholders equity accounts for 20Y2 are as follows ACCOUNT Land ACCOUNT NO CBOOK Statement of cash flows Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions ACCOUNT Land Date 2012 ACCOUNT NO Balance Item Debit Credit Debit Credit Jan 1 Balance 479,700 Apr 20 Realized $151,200 cash from sale 163,800 315,900 ACCOUNT Buildings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan 1 Balance Apr 20 Acquired for cash 561,600 900,900 1,462,500 eBook Statement of cash flows Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions: ACCOUNT Accumulated Depreciation Buildings ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2012 Jan 1 Balance 382,320 Dec 31 Depreciation for year 26.280 408,600 ACCOUNT Equipment ACCOUNT NO Balance Date Item Debit Credit Debit Credit 2012 Jan 1 Balance 454,680 26 Discarded, no salvage 46,800 407,880 Check My Work 5 more Check My Work uses remaining Labels and Amount Descriptions Statement of Cash Flows Statement of cash flows Instructions Instructions Aug 11 Purchased for cash 104,400 512,280 ACCOUNT Accumulated Depreciation-Equipment ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan 1 Balance 26 Equipment discarded 46,800 Dec. 31 Depreciation for year ACCOUNT Bonds Payable 158,760 111,960 29,340 141,300 ACCOUNT NO Balance Date Item Debit Credit Debit Credit 4 Statement of cash flows Instructions Instructions Labels and Amount Descriptions Statement of Cash Flows ACCOUNT Bonds Payable ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 May 1 Issued 20-year bonds 270,000 270,000 ACCOUNT Common Stock $25 par Date 2012 ACCOUNT NO Balance Item Debit Credit Debit Credit Jan 1 Balance 117,000 Dec 7 Issued 8,000 shares of common stock for 550 per share 200,000 317,000 Dennum Statement of cash flows Instructions Instructions Labels and Amount Descriptions Statement of Cash Flows ACCOUNT Paid-In Capital in Excess of Par-Common Stock ACCOUNT NO. Balance Debit Credit Debit Credit Date Item 2012 Jan 1 Balance 558,000 Dec 7 Issued 8,000 shares of common stock for $50 per share 200,000 758,000 ACCOUNT Retained Earnings ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan Balance 2,585,700 Dar 31 Mat ines 36.330 2 kk 200 eBook Instructions Labels and Amount Descriptions Statement of Cash Flows Instructions Dec. 7 Issued 8,000 shares of common stock for $50 per share ACCOUNT Retained Earnings 200,000 758,000 ACCOUNT NO. Balance Date Item Debit Credit Debit Credit 2012 Jan 1 Balance 2,585,700 Dec. 31 Net loss 35,320 2,550,300 31 Cash dividends 32,400 2,517,980 Required: Prepare a statement of cash flows, using the indirect method of presenting cash flows from (used for coerating activities Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions liat provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow for each section if required