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

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: Excess of issue price over par—common 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 Depreciation––Buildings 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 Depreciation ––Equipment 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 Par––Common 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 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.

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