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Consolidated balance sheet data for Planet, Inc. and its 70 percent-owned subsidiary, Sun Corp., are presented below: Additional information for 2017: Consolidated net income was
Consolidated balance sheet data for Planet, Inc. and its 70 percent-owned subsidiary, Sun Corp., are presented below:
Additional information for 2017:
Consolidated net income was $50,000. The noncontrolling interest share of consolidated net income of Sun was $3,00.
Sun paid $4,000 in dividends.
There were no disposals of Plant and Equipment or the Copyright during the year.
Required: Please show and clearly label the operating activities section of the Consolidated Statement of Cash Flows.
2017 2016 $ Cash Accounts Receivable (net) Inventory Plant & Equipment (net) Copyright Totals 8,000 75,000 100,000 156,000 16,000 355,000 26,000 54,000 89,000 170,000 18,000 357,000 $ $ 60,000 $ Accounts Payable Long-term Debt Noncontrolling Interest Common Stock, $1 par Retained Earnings Totals 27,000 100,000 168,000 355,000 51,000 35,000 25,000 100,000 146,000 357,000 $ $
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