Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.*Retained earnings date Itemsdebit creditdebit credit Jan 1Balance 2,585,700dec 31net loss35,320 2,550,380dec 31cash dividends32,400 2,517,980 ## PR 13-3A Statement of Cash Flows – Indirect Method### The Comparative Balance Sheet of Whitman Co. at December 31, 20Y2 and 20Y1### Assets| Item | Dec. 31, 20Y2 | Dec. 31, 20Y1 ||---------------------------------------|---------------|---------------|| Cash | $918,000 | $964,800 || Accounts receivable (net) | 828,900 | 761,940 || Inventories | 1,268,460 | 1,162,980 || Prepaid expenses | 29,340 | 35,100 || Land | 315,900 | 479,700 || Buildings | 1,462,500 | 900,900 || Accumulated depreciation—buildings | (408,600) | (382,320) || Equipment | 512,280 | 454,680 || Accumulated depreciation—equipment | (141,300) | (158,760) || **Total assets** | $4,785,480 | $4,219,020 |### Liabilities and Stockholders' Equity| Item | Dec. 31, 20Y2 | Dec. 31, 20Y1 ||------------------------------------|---------------|---------------|| Accounts payable (merchandise creditors) | $922,500 | $958,320 || Bonds payable | 270,000 | 0 || Common stock, $25 par | 317,000 | 117,000 || Paid-in capital in excess of par—common stock | 758,000 | 558,000 || Retained earnings | 2,517,980 | 2,585,700 || **Total liabilities and stockholders' equity** | $4,785,480 | $4,219,020 |### The Noncurrent Asset, Noncurrent Liability, and Stockholders' Equity Accounts for 20Y2 Are As Follows:#### ACCOUNT: Land| Date | Item | Debit | Credit | Balance | |--------|------------------------------------|-------|--------| ### Educational Website: Accounting Journals and Ledgers #### Example Accounting Entries for a Company**Account: Accumulated Depreciation—Buildings**- **Date:** January 1 - **Item:** Balance- **Credit:** $382,320- **Date:** December 31 - **Item:** Depreciation for year- **Credit:** $26,280- **Ending Balance Credit:** $408,600---**Account: Equipment**- **Date:** January 1 - **Item:** Balance- **Debit:** $454,680- **Date:** January 26 - **Item:** Discarded, no salvage- **Credit:** $46,800- **Date:** August 11 - **Item:** Purchased for cash- **Debit:** $104,400- **Ending Balance Debit:** $512,280---**Account: Accumulated Depreciation—Equipment**- **Date:** January 1 - **Item:** Balance- **Credit:** $158,760- **Date:** January 26 - **Item:** Equipment discarded- **Debit:** $46,800- **Date:** December 31 - **Item:** Depreciation for year- **Credit:** $29,340- **Ending Balance Credit:** $141,300---**Account: Bonds Payable**- **Date:** May 1 - **Item:** Issued 20-year bonds- **Credit:** $270,000- **Ending Balance Credit:** $270,000---**Account: Common Stock, $25 par**- **Date:** January 1 - **Item:** Balance- **Credit:** $117,000- **Date:** December 7 - **Item:** Issued 8,000 shares of common stock for $50 per share- **Credit:** $200,000- **Ending Balance Credit:** $317,000---**Account: Paid-In Capital in Excess of Par—Common Stock**- **Date:** January 1 - **Item:** Balance- **Credit:** $558,000- **Date:** December 7 - **Item:** Issued 8,000 shares of common stock for $50 per share- **Credit:** $200,000

Name: Prepare a statement of cash flows, using the indirect method of presen
Uploaded: 2024-03-05T11:47:04.000Z
Channel: Bartleby
Description: Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities.*Retained earnings date Itemsdebit creditdebit credit Jan 1Balance 2,585,700dec 31net loss35,320 2,550,380dec 31cash dividends32,400