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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			479,900
Apr.	20	Realized $152,430 cash from sale		164,090	315,810

ACCOUNT Buildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance			900,740
Apr.	20	Acquired for cash	562,560		1,463,300

ACCOUNT Accumulated DepreciationBuildings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				381,910
Dec.	31	Depreciation for year		26,440		408,350

ACCOUNT Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance			454,060
	26	Discarded, no salvage		47,260	406,800
Aug.	11	Purchased for cash	105,670		512,470

ACCOUNT Accumulated Depreciation Equipment

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				159,730
	26	Equipment discarded	47,260			112,470
Dec.	31	Depreciation for year		29,800		142,270

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				116,000
Dec.	7	Issued 8,000 shares of common stock for $52 per share		200,000		316,000

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 8,000 shares of common stock for $52 per share		216,000		775,000

ACCOUNT Retained Earnings

					ACCOUNT NO.
					Balance
Date		Item	Debit	Credit	Debit	Credit
20Y2
Jan.	1	Balance				2,586,420
Dec.	31	Net loss	53,460			2,532,960
	31	Cash dividends	31,740			2,501,220

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. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.

14. PR.13-03.BLANKSHEET.ALGO (Algorithmic) Statement of cash flows-indirect method 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.31,20Y Dec. 31,20Y1 Assets Cash 4 Accounts receivable (net) 5 Inventories 6 Prepaid expenses 7 Land 8 Buildings 9 Accumulated depreciation-buildings 10 Equipment 11 Accumulated depreciation-equipment 2 Total assets 965,110.00 761,830.00 1,268,550.00 1,163,510.00 35,720.00 479,900.00 900,740.00 408,350.00) 381,910.00) 454,060.00 (159,730.00) 4,784,580.00 $4,219,230.00 918,260.00 828,050.00 28,760.00 315,810.00 1,463,300.00 512,470.00 (142,270.00) Liabilities and Stockholders' Equity 13 $957,810.00 0.00 116,000.00 559,000.00 2,586,420.00 4,784,580.00 $4,219,230.00 922,360.00 270,000.00 316,000.00 775,000.00 2,501,220.00 14 Accounts payable (merchandise creditors) 15 Bonds payable 16 Common stock, $25 par 17 Paid-in capital: Excess of issue price over par-common stock 18 Retained earnings 19 Total Liabilities and stockholders' equity Labels and Amount Descriptions Labels and 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 Change in cash December 31, 20Y2 Decrease in accounts payable Decrease in accounts receivable 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 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 Whitman Co Statement of Cash Flows (Label) 1 Cash flows from operating activities: Adjustments to reconcile net loss to net cash flow from operating activities 6 Changes in current operating assets and liabilities: 10 13 Cash flows from investing activities: 14 15 16 17 9 Cash flows from financing activities: 20 21 23 24 25 Cash at the beginning of the year 26 Cash at the end of the year

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