Prepare a statement of cash flows, using the indirectmethod of presenting cash flows from operating activities. Use theminus sign to indicate cash out flows, cash payments, decreases incash, or any negative adjustments.

The comparative balance sheet of Whitman Co. at December 31,20Y2 and 20Y1, is as follows:

	Dec. 31,20Y2			Dec. 31,20Y1
Assets
Cash	$ 701,950			$ 755,530
Accounts receivable (net)	638,770			582,620
Inventories	968,690			891,480
Prepaid expenses	22,460			26,670
Land	241,470			365,010
Buildings	1,116,100			687,910
Accumulated depreciation-buildings	(315,880)			(294,820)
Equipment	393,090			347,470
Accumulated depreciation-equipment	(108,100)			(121,440)
Total assets	$3,658,550			$3,240,430
Liabilities and Stockholders'Equity
Accounts payable (merchandise creditors)	$ 695,120			$ 733,540
Bonds payable	204,880			0
Common stock, $20 par	241,000			89,000
Paid-in capital: Excess of issue price over par-commonstock	579,000			427,000
Retained earnings	1,938,550			1,990,890
Total liabilities andstockholders' equity	$3,658,550			$3,240,430

The noncurrent asset, noncurrent liability, and stockholders’equity accounts for 20Y2 are as follows:

ACCOUNTLand				ACCOUNTNO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			365,010
Apr. 20	Realized $114,900 cash fromsale		123,540	241,470

ACCOUNTBuildings				ACCOUNTNO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			687,910
Apr. 20	Acquired for cash	428,190		1,116,100

ACCOUNTAccumulated Depreciation-Buildings				ACCOUNTNO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				294,820
Dec. 31	Depreciation for year		21,060		315,880

ACCOUNTEquipment				ACCOUNTNO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance			347,470
Jan. 26	Discarded, no salvage		38,200	309,270
Aug. 11	Purchased for cash	83,820		393,090

ACCOUNTAccumulated Depreciation-Equipment				ACCOUNTNO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				121,440
Jan. 26	Equipment discarded	38,200			83,240
Dec. 31	Depreciation for year		24,860		108,100

ACCOUNTBonds Payable				ACCOUNTNO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
May 1	Issued 20-year bonds		204,880		204,880

ACCOUNTCommon Stock, $20 par				ACCOUNTNO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				89,000
Dec. 7	Issued 7,600 shares of common stock for $40 per share		152,000		241,000

ACCOUNTPaid-in Capital in Excess of Par-CommonStock				ACCOUNTNO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				427,000
Dec. 7	Issued 7,600 shares of common stock for $40 per share		152,000		579,000

ACCOUNTRetained Earnings				ACCOUNTNO.
				Balance
Date	Item	Debit	Credit	Debit	Credit
20Y2
Jan. 1	Balance				1,990,890
Dec. 31	Net loss	25,200			1,965,690
Dec. 31	Cash dividends	27,140			1,938,550