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Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percentowned subsidiary Oakley Co. follow: 2018 2017 Cash $ 14,100 $ 10,400 Accounts receivable
Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percentowned subsidiary Oakley Co. follow:
2018 | 2017 | |||||||
Cash | $ | 14,100 | $ | 10,400 | ||||
Accounts receivable (net) | 47,550 | 28,250 | ||||||
Merchandise inventory | 100,200 | 51,000 | ||||||
Buildings and equipment (net) | 106,800 | 120,000 | ||||||
Trademark | 114,800 | 131,500 | ||||||
Totals | $ | 383,450 | $ | 341,150 | ||||
Accounts payable | $ | 89,400 | $ | 73,000 | ||||
Notes payable, long-term | 0 | 29,400 | ||||||
Noncontrolling interest | 67,750 | 59,250 | ||||||
Common stock, $10 par | 200,000 | 200,000 | ||||||
Retained earnings (deficit) | 26,300 | (20,500 | ) | |||||
Totals | $ | 383,450 | $ | 341,150 | ||||
Additional Information for Fiscal Year 2018
- Iverson and Oakleys consolidated net income was $68,500.
- Oakley paid $6,000 in dividends during the year. Iverson paid $12,000 in dividends.
- Oakley sold $12,000 worth of merchandise to Iverson during the year.
- There were no purchases or sales of long-term assets during the year.
In the 2018 consolidated statement of cash flows for Iverson Company:
Net cash flows from operating activities were???
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