Bolero Company holds 80 percent of the common stock of Rivera, Inc., and 40 percent of this subsidiary’s convertible bonds. The following consolidated financial statements are for 2023 and 2024 (credit balances indicated by parentheses):

Additional Information for 2024∙ The parent issued bonds during the year for cash.∙ Amortization of databases amounts to $15,000 per year.∙ The parent sold a building with a cost of $80,000 but a $40,000 book value for cash on May 11.∙ The subsidiary purchased equipment on July 23 for $205,000 in cash.∙ Late in November, the parent issued stock for cash.

. During the year, the subsidiary paid dividends of $10,000. Both parent and subsidiary pay dividends in the same year as declared.

Prepare a consolidated statement of cash flows for this business combination for the year ending December 31, 2024. Use the indirect method to compute cash flow from operating activities.

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Bolero Company and Consolidated Subsidiary Rivera 2023 $ (900,000) 610,000 Revenues Cost of goods sold. Depreciation and amortization. Gain on sale of building.. Interest expense.. Consolidated net income to noncontrolling interest to parent company. Retained earnings, 1/1. Net income... Dividends declared.. Retained earnings, 12/31 Cash Accounts receivable. Inventory.... Buildings and equipment (net) Databases Total assets Accounts payable. Bonds yable.... Noncontrolling interest in Rivera Common stock Additional paid-in capital. Retained earnings... Total liabilities and equities.. 100,000 -0- 40,000 (150,000) 19,000 $ (131,000) $ (310,000) (131,000) 60,000 $(381,000) $ 90,000 170,000 210,000 650,000 170,000 $1,290,000 $ (160,000) (410,000) (42,000) (110,000) (187,000) (381,000) $(1,290,000) 2024 $(1,030,000) 650,000 120,000 (30,000) 40,000 (250,000) 21,000 $ (229,000) $ (381,000) (229,000) 110,000 $ (500,000) $ 180,000 150,000 360,000 710,000 155,000 $ 1,555,000 $ (110,000) (520,000) (61,000) (140,000) (224,000) (500,000) $(1,555,000)