b. Prepare a consolidated statement of cash flows for 20>(3. (Amounts to be deducted should be Indicated with a minus sign.) Cash Flows from Operating Activities Increase in notes payable Cash Flows from Investing Activities: Purchase of land Purchase of buildings and equipment Cash Flows from Financing Activities: Cash at beginning of year Cash at end of year Pear Corporation acquired 75 percent ownership of Sugar Company on January 1, 20x1, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 25 percent of the book value of Sugar Company. Consolidated balance sheets at January 1, 20x3. and December 31, 20x3, are as follows: Item Jan. 1, 20x3 Dec. 31, 2033 Assets Cash 3 84,500 $ 116,500 Accounts Receivable 86,000 101,000 Inventory 115,000 123,000 Land 45,000 55,000 Buildings 8 Equipment 530,000 565,000 Less: Accumulated Depreciation (180,500) (217,000) Patents 8,000 7,000 Total Assets $ 533.000 5 759:500 Liabilities and Owners' Equity Accounts Payable $ 53,000 $ 58,000 Wages Payable 18,000 12,000 Notes Payable 246,000 261,000 Common Stock {510 par value} 137,000 137,000 Retained Earnings 209,000 253,500 Noncontrolling Interest 25,000 29,000 Total Liabilities and Owners' Equity 5 533.000 5 759:500 The consolidated income statement for 20x3 contained the following amounts: Sales 5 476,500 Cost of Goods Sold $246,000 Wage Expense 51,000 Depreciation Expense 36,500 Interest Expense 14,000 Amortization Expense 1,000 other Expenses 42,000 (390,500) Consolidated Net Income $ 86,000 Income to Noncontrolling Interest (9,500) Income to Controlling Interest 5 75,500 Pear and Sugar paid dividends of $32,000 and $22,000, respectively, in 2OX3