Balance sheet for Hickory High, Inc.

Assets

Cash

Accounts Receivable

Inventory

Trading Securities

Equipment

AD

Building

AD

Land

Patents

Goodwill

Total Assets

Liabilities

Current Liabilities

LongTerm Notes Payable

Bonds Payable

Discount on Bonds Payable

Total Liabilities

Equity

Common Stock

Additional Paidin Capital

Retained Earnings

NCI

Total Equity

Total Equity and Liabilities

Other information:

Consolidated net income was $

Parent owns in each of its subsidies except for the new company it purchases in #

Parent did not sell any of its trading securities but it did purchase $ in

Company sold some old equipment during the year for $ historical cost was $ book value was $

New patents were purchased during the year for $

The company paid off $ of its longterm notes but did borrow some new money using longterm notes

On December st Parent purchased of a new subsidiary by issuing common stock with a fair value of $ At the time of purchase, the new subsidiary had cash on its balance sheet totaling $ and the subsidiary had net identifiable assets of $ which equaled its book value.

The old subsidiaries paid a total of $ of dividends, the newly purchased subsidiary did not pay any dividends to the Parent.

Because this is a takehome 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 Taccounts for everything. If I do not state how the company purchased something, assume they paid cash ie new equipment

Prepare in proper form a consolidated statement of cash flows for Hickory High, Inc. and its consolidated subsidiaries for