Net cash flows from financing activities were

a. $(25,000).

b. $(37,000).

c. $(38,000).

d. $(42,000).

Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent–owned subsidiary Oakley Co. follow:

Additional Information for Fiscal Year 2011

• Iverson and Oakley’s consolidated net income was $45,000.

• Oakley paid $5,000 in dividends during the year. Iverson paid $12,000 in dividends.

• Oakley sold $11,000 worth of merchandise to Iverson during the year.

• There were no purchases or sales of long-term assets during the year.

In the 2011 consolidated statement of cash flows for Iverson Company:

Transcribed Image Text:

2011 2010 $ 7,000 55,000 85,000 95,000 85,000 $327,000 $ 20,000 38,000 45,000 105,000 100,000 $308,000 Cash ... Accounts receivable (net) Merchandise inventory Buildings and equipment (net) Trademark Totals Accounts payable ... Notes payable, long-term Noncontrolling interest Common stock, $10 par Retained earnings (deficit) $ 75,000 $ 63,000 25,000 35,000 200,000 (15,000) $308,000 -0- 39,000 200,000 13,000 Totals $327,000 2...