Consolidated Cash Flow Statement of Pineda Corporation and its subsidiary Swamy Corporation as of December 2019 and 2020:

Assets	2020	2019	Net Change Incr. (Decr.)
$	$	$
Cash	313,000	195,000	118,000
Marketable equity securities (at cost)	175,000	175,000
Allowance to reduce marketable equity securities to market	(13,000)	(24,000)	11,000
Accounts receivable (net)	418,000	440,000	(22,000)
Inventories	595,000	525,000	70,000
Land	385,000	170,000	215,000
Plant and equipment	755,000	690,000	65,000
Accumulated depreciated	(199,000)	(145,000)	(54,000)
Goodwill	60,000	60,000	0
Total Assets	$2,489,000	$2,086,000	$403,000
Liabilities and Stockholder’s Equity
Current portion of long-term	$150,000	$150,000	$
Accounts payable and accrued liabilities	595,000	474,000	121,000
Note payable, long term	300,000	450,000	(150,000)
Deferred income taxes	44,000	32,000	12,000
Non-controlling interest in net assets of subsidiary	179,000	161,000	18,000
Common stock	580,000	480,000	100,000
Additional paid-in capital	303,000	180,000	123,000
Retained earnings	338,000	195,000	143,000
Treasury stock (at cost)	0	(36,000)	36,000
Total liabilities and stockholders’ equity	$2,489,000	$2,086,000	$403,000

Additional information:

1. On January 20, 2020, Pineda Incorporated issued 10,000 shared of its common stock for land having a fair value of $215,000.
2. On February 5, 2020, Pineda reissued all of its treasury stock for $44,000.
3. On May 15, 2020, Pineda repaid a cash dividend of $58,000 on its common stock.
4. On August 8, 2020, equipment was purchased for$127,000
5. On September 30, 2020, equipment was sold for $40,000. The equipment cost $62,000 and had a book value on that date of sale.
6. On December 15, 2020, Swamy Corporation paid dividend of $50,000 on its common stock.
7. Deferred income taxes represent timing differences relating to the use of accelerated depreciation methods for income tax reporting and the straight-line method for financial reporting.
8. Net income for 2020 was as follows:

Controlling interest in consolidated income $201,000

Swamy Corporation 110,000

9. Pineda Incorporated owns 70% Swamy Corporation. There was no change in ownership interest in Swamy during 2019 and 2020. There were no intercompany transactions other than the dividend paid to Pineda by its subsidiary.

Required:
Prepare the statement of cash flows for the Pineda Group using the indirect method and show all workings

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