6) The company paid off $50 of its long-term notes but did borrow some new money using long- term notes 7) On December 31st, Parent purchased 100% of a new subsidiary by issuing common stock with a fair value of $272. At the time of purchase, the new subsidiary had cash on its balance sheet totaling $260 and the subsidiary had net identifiable assets of $260 which equaled its book value. 8) The old subsidiaries paid a total of $50 of dividends, the newly purchased did not pay any dividends to the Parent. Because this is a take-home problem, I am forcing you to really think. For example, I did not tell you the amount of dividends the Parent paid, I am making you think about how you can get that number. Use T- accounts for everything. If I do not state how the company purchased something, assume they paid cash (i.e. new equipment). Prepare in proper form a consolidated statement of cash flows for Hickory High, Inc. and its consolidated subsidiaries for 2019. Statement of Cash Flows, take-home problem (10 points) Balance sheet for Hickory High, Inc. Assets 2018 2019 Cash 621 697 Accounts Receivable 1,153 986 Inventory 547 637 Trading Securities 310 556 Equipment 1,231 1,314 A/D (677) (811) Building 371 371 A/D (167) (176) Land 1,458 1,558 Patents 143 132 Goodwill 837 849 Total Assets 5,827 6,113 Liabilities Current Liabilities 1,244 1,158 Long-Term Notes Payable 700 770 Bonds Payable 1,000 1,000 Discount on Bonds Payable (8) (6) Total Liabilities 2,936 2,922 Equity Common Stock 508 600 Additional Paid-in Capital 1,583 1,763 Retained Earnings 720 740 NCI 80 88 Total Equity 2,891 3,191 Total Equity and Liabilities 5,827 6,113 Other information: 1) Consolidated net income was $108 2) Parent owns 80% in each of its subsidies except for the new company it purchases in #7 3) Parent did not sell any of its trading securities, but it did purchase $190 in 2019 4) Company sold some old equipment during the year for $17, historical cost was $75, book value was $20