Cash Flow, year subsequent to purchase. Marion Company is a 80% owned subsidiary of Lange Company. The interest in Marion is purchased on January 1, 2015, for $680,000 cash. The fair value of the NCI was $170,000. At that date, Marion has stockholders equity of $650,000. The excess price is attributed to equipment with a 5-year life undervalued by $50,000 and to goodwill. The following comparative consolidated trial balances apply to Lange Company and its subisidiary, marion: Cash 2015 - 16,000 2016 - 24,500 Inventory 2015 - 120,000 2016 - 160,000 AR 2015 - 200,000 2016 - 300,000 PPE 2015 - 3,030,000 2016 - 3,450,000 Investment in Charles Corp (30%) 2015 - (1,086,000) 2016 - (1,292,000) Goodwill 2015 - 150,000 2016 - 150,000 AP 2015 - (117,000) 2016 - (200,000) Bonds Payable 2015 - (100,000) 2016 - (450,000) NCI 2015 - (167,000) 2016 - (179,000) Controlling Interest: Common Stock 2015 - (1,000,000) 2016 - ( 1,000,000) PIC 2015 - (650,000) 2016- (650,000) RE 2015 - (396,000) 2016 - (558,000) a) Marion purchases equioment for 70,000 b) Marion issues 350,000 of long term bonds and later uses the proceeds to purchase a new building. c) On January 1, 2016 Lange purchases 30% of the outstanding common stock of charles corporation for 230,000. This is an influential investment. Charles stockholders equity is 700,000 on the date of the purchase. Any excess cost is attributed to equipment with a 10-year life. Charles reports net income of 80,000 in 2016 and pays dividends of 25,000. d) Controlling share of consolidated income for 2016 is 262,000; the non-controlling interest in consolidated net income is 15,000. Lange pays 100,000 in dividends in 2016; Marion pays 15,000 in dividends in 2016. Prepare the consolidated statement of cash flows for 2016 using the indirect method. Any supporting calculation (Including a determintion and distribution schedule of excess schedule) should be in good form.