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	$918,330.00	$965,220.00
4	Accounts receivable (net)	828,620.00	761,010.00
5	Inventories	1,268,630.00	1,162,990.00
6	Prepaid expenses	30,290.00	35,390.00
7	Land	315,080.00	478,880.00
8	Buildings	1,462,320.00	899,910.00
9	Accumulated depreciation-buildings	(408,210.00)	(382,220.00)
10	Equipment	511,480.00	454,920.00
11	Accumulated depreciation-equipment	(140,580.00)	(159,440.00)
12	Total assets	$4,785,960.00	$4,216,660.00
13	Liabilities and Stockholders Equity
14	Accounts payable (merchandise creditors)	$923,090.00	$958,100.00
15	Bonds payable	269,000.00	0.00
16	Common stock, $25 par	325,500.00	118,000.00
17	Paid-in capital: Excess of issue price over parcommon stock	766,500.00	559,000.00
18	Retained earnings	2,501,870.00	2,581,560.00
19	Total liabilities and stockholders equity	$4,785,960.00	$4,216,660.00

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			478,880
Apr.	20	Realized $150,210 cash from sale		163,800	315,080

ACCOUNT Buildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance			899,910
Apr.	20	Acquired for cash	562,410		1,462,320

ACCOUNT Accumulated DepreciationBuildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				382,220
Dec.	31	Depreciation for year		25,990		408,210

ACCOUNT Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance			454,920
	26	Discarded, no salvage		47,120	407,800
Aug.	11	Purchased for cash	103,680		511,480

ACCOUNT Accumulated Depreciation Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				159,440
	26	Equipment discarded	47,120			112,320
Dec.	31	Depreciation for year		28,260		140,580

ACCOUNT Bonds Payable

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
May	1	Issued 20-year bonds		269,000		269,000

ACCOUNT Common Stock $25 par

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				118,000
Dec.	7	Issued 8,300 shares of common stock for $50 per share		207,500		325,500

ACCOUNT Paid-In Capital in Excess of ParCommon Stock

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				559,000
Dec.	7	Issued 8,300 shares of common stock for $50 per share		207,500		766,500

ACCOUNT Retained Earnings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				2,581,560
Dec.	31	Net loss	47,830			2,533,730
	31	Cash dividends	31,860			2,501,870

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. In the operating activities section, use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow, if required. In the investing and financing activities section, use a minus sign only to indicate a NET cash outflow for the section.

Labels and Amount Descriptions
Cash used for acquisition of building
Cash used for dividends
Cash used for merchandise
Cash used for purchase of equipment
Cash from customers
Cash from issuance of bonds payable
Cash from issuance of common stock
Cash from land sold
December 31, 20Y2
Decrease in accounts payable
Decrease in accounts receivable
Decrease in cash
Decrease in inventories
Decrease in prepaid expenses
Decrease in salaries payable
Depreciation
For the Year Ended December 31, 20Y2
Gain on sale of investments
Gain on sale of land
Increase in accounts payable
Increase in accounts receivable
Increase in cash
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 flow from financing activities
Net cash flow from investing activities
Net cash flow from operating activities
Net cash flow used for financing activities
Net cash flow used for investing activities
Net cash flow used for operating activities
Net income
Net loss

Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Be sure to complete the heading of the statement. In the operating activities section, use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow, if required. In the investing and financing activities section, use a minus sign only to indicate a NET cash outflow for the section.