Comparative consolidated balance sheets and the intervening income statement for Prime Casinos and its subsidiary Saratoga International
Question:
PRIME CASINOS and SARATOGA INTERNATIONAL HOTELS
Consolidated Statement of Income and Retained Earnings
For Year Ended December 31, 2013
Sales and other revenue$3,555
Cost of goods sold(1,700)
Operating expenses(1,243)
Consolidated net income612
Noncontrolling interest in net income(12)
Controlling interest in net income,600
Retained earnings, January 1, 2013900
Dividends paid(435)
Retained earnings, December 31, 2013$1,065
Additional information (in millions):
1. Consolidated depreciation expense was $250.
2. During the year, plant assets of $675 were acquired for cash.
3. Operating expenses include $10 in losses on sale of plant assets for cash.
Required
Prepare, in good form, the consolidated statement of cash flows for the year ended December 31,2013.
Step by Step Answer:
Advanced Accounting
ISBN: 978-1934319307
2nd edition
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III