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#2 ACCT 4001 Solve the following questions: The following information was derived from the 2017 consolidated financial statements of Parents Co., which owns 80% of
#2 ACCT 4001 Solve the following questions: The following information was derived from the 2017 consolidated financial statements of Parents Co., which owns 80% of AAA Co. as well as 40% of BBB Co.: Equity Earnings from BBB Co. $120,000 Decrease in Accounts Payable $5,000 Increase in Accounts Receivable $10,000 Increase in Inventory $20,000 Increase in Bonds Payable $40,000 Depreciation $20,000 Loss on sale of machinery $10,000 Carrying value of machinery sold $60,000 Dividends received from BBB Co. $10,000 Purchase of a building for cash $400,000 Goodwill impairment loss $5,000 Entity Net Income allocated to non-controlling interest $5,000 Consolidated net income allocated to Parent $950,000 Dividends paid by Parents Co. $40,000 Dividends paid by AAA Co. $12,000 The cash balance at the start of 2017 was $200,000. Required: Prepare the consolidated statement of cash flows for Parents Co. for the year ended December 31, 2017
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