Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Consolidated Statement of Cash Flows Comparative consolidated balance sheets and the 2013 Statement of1Retained Earnings. PC and Sl Comparative Consolidated Balance Sheets December 31 Additional

Consolidated Statement of Cash Flows Comparative consolidated balance sheets and the 2013 Statement of1Retained Earnings.

PC and Sl

Comparative Consolidated Balance Sheets

December 31

image text in transcribedimage text in transcribed

Additional information (in millions): 1. Consolidated depreciation expense was $250. 2. During the year, plant assets of S675 were acquired for cash. 3. Operating expenses include $10 in losses on sale of plant assets for cash.

Please prepare the consolidated statement of cash flow for the year end 12/31/2013. (show the detailed processes)

Assets Cash Other current assets Property, plant, and equipment Accumulated depreciation Goodwill Total assets \begin{tabular}{ll} $500 & 200 \\ 900 & 800 \\ 3,100 & 2,500 \\ (1,000) & (800) \\ 275 & 300 \\ $3,775 & $3,000 \end{tabular} Liabilities and Stockholder's Equity Current liabilities Long-term liabilities Capital Stock Retained earnings Noncontrolling interest Total liabilities and stockholder's equity \begin{tabular}{ll} $00 & 650 \\ 950 & 800 \\ 700 & 500 \\ 1,065 & 900 \\ 160 & 150 \\ $3,775 & $3,000 \end{tabular} PC and SI Consolidated Statement of Income and Retained Earnings For Year Ended December 31, 2013 Sales and other revenues Cost of goods sold Operating expenses Consolidated net income Noncontrolling interest in net income Controlling interest in net income Retained earnings, January 1, 2013 Dividends paid Parent Retained earnings, December 31,2013 $3,555 (1,700) (1,243) 612 (12) 600 900 (435) . $1,065 Additional information (in millions)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions