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	$964,800.00
4	Accounts receivable (net)	828,900.00	761,940.00
5	Inventories	1,268,460.00	1,162,980.00
6	Prepaid expenses	29,340.00	35,100.00
7	Land	315,900.00	479,700.00
8	Buildings	1,462,500.00	900,900.00
9	Accumulated depreciation-buildings	(408,600.00)	(382,320.00)
10	Equipment	512,280.00	454,680.00
11	Accumulated depreciation-equipment	(141,300.00)	(158,760.00)
12	Total assets	$4,785,480.00	$4,219,020.00
13	Liabilities and Stockholders Equity
14	Accounts payable (merchandise creditors)	$922,500.00	$958,320.00
15	Bonds payable	270,000.00	0.00
16	Common stock, $25 par	317,000.00	117,000.00
17	Paid-in capital in excess of parcommon stock	758,000.00	558,000.00
18	Retained earnings	2,517,980.00	2,585,700.00
19	Total liabilities and stockholders equity	$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.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
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
20Y2
Jan.	1	Balance			900,900
Apr.	20	Acquired for cash	561,600		1,462,500

ACCOUNT Accumulated DepreciationBuildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
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
20Y2
Jan.	1	Balance			454,680
	26	Discarded, no salvage		46,800	407,880
Aug.	11	Purchased for cash	104,400		512,280

ACCOUNT Accumulated DepreciationEquipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				158,760
	26	Equipment discarded	46,800			111,960
Dec.	31	Depreciation for year		29,340		141,300

ACCOUNT Bonds Payable

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
May	1	Issued 20-year bonds		270,000		270,000

ACCOUNT Common Stock $25 par

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				117,000
Dec.	7	Issued 8,000 shares of common stock for $50 per share		200,000		317,000

ACCOUNT Paid-In Capital in Excess of ParCommon Stock

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
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
20Y2
Jan.	1	Balance				2,585,700
Dec.	31	Net loss	35,320			2,550,380
	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) operating activities.

Labels
Cash flows from (used for) operating activities
Cash flows from (used for) investing activities
Cash flows from (used for) financing activities
December 31, 20Y2
For the Year Ended December 31, 20Y2
Amount Descriptions
Cash paid for acquisition of building
Cash paid for dividends
Cash paid for merchandise
Cash paid for purchase of equipment
Cash received from customers
Cash received from issuance of bonds payable
Cash received from issuance of common stock
Cash received from land sold
Cash balance, January 1, 20Y2
Cash balance, December 31, 20Y2
Decrease in accounts payable
Decrease in accounts receivable
Decrease in inventories
Decrease in prepaid expenses
Decrease in salaries payable
Depreciation
Gain on sale of investments
Gain on sale of land
Increase in accounts payable
Increase in accounts receivable
Increase in inventories
Increase in prepaid expenses
Increase in salaries payable
Issuance of common stock for acquisition of building
Issuance of common stock for purchase of equipment
Issuance of common stock to retire bonds
Loss on sale of investments
Loss on sale of land
Net cash flows from financing activities
Net cash flows from investing activities
Net cash flows from operating activities
Net cash flows used for financing activities
Net cash flows used for investing activities
Net cash flows used for operating activities
Net decrease in cash
Net income
Net increase in cash
Net loss

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

Statement of Cash Flows Instructions

Whitman Co.

Statement of Cash Flows

(Labels)

1
2
3	Adjustments to reconcile net loss to net cash flows from (used for) operating activities:
4
5
6	Changes in current operating assets and liabilities:
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26