Net cash flows from operating activities were

a. $12,000.

b. $20,000.

c. $24,000.

d. $25,000.

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

Additional Information for Fiscal Year 2021

• 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 2021 consolidated statement of cash flows for Iverson Company.

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2021 2020 Cash $ 7,000 $ 20,000 Accounts receivable (net) Merchandise inventory.. Buildings and equipment (net) 55,000 38,000 85,000 45,000 105,000 95,000 Trademark . 85,000 100,000 Totals.. $327,000 $308,000 Accounts payable.. Notes payable, long-term Noncontrolling interest. Common stock, $10 par Retained earnings (deficit). $ 75,000 $ 63,000 25,000 -0- 39,000 35,000 200,000 200,000 13,000 (15,000) Totals.... $327,000 $308,000