Consolidated Statement of Cash Flows Here are the consolidated financial statements of Pack Ranch Resort and its 70 percent owned subsidiary, Sunrise Camps, for the year ended December 31, 2023, plus supplementary information. Comparative balance sheets are provided for 2022 and 2023. Consolidated Balance Sheets December 31 2023 2022 Cash Receivables $424,000 $113,000 Inventories Equity method investments 305,000 310,000 1,475,000 1,450,000 Property, plant and equipment, net Goodwill Total assets 199,000 192,000 5,200,000 4,700,000 2,980,000 3,080,000 $10,583,000 $9,845,000 Current liabilities Long-term liabilities Shareholders' equity to Pack Ranch Noncontrolling interest in Sunrise Camps Total liabilities and equity $470,000 $425,000 8,600,000 8,120,000 1,275,000 1,135,000 238,000 165,000 $10,583,000 $9,845,000 Consolidated Income Statement Sales and other income $245,300,000 Cost of sales (165,000,000) Operating expenses (80,000,000) Consolidated net income 300,000 Noncontrolling interest in net income (85,000) Net income to controlling interest $215,000 Supplementary information for 2023: 1. Sunrise Camps paid $40,000 in cash dividends. Pack Ranch paid $75,000 in cash dividends. 2. Operating expenses include depreciation expense of $350,000 and goodwill impairment losses of $100,000. 3. Sales and other income includes $60,000 gain on sale of property, plant and equipment and $8,000 equity in net income from equity method investees. Cash dividends received from equity method investees were $1,000. 4. Accumulated depreciation balances on December 31, 2023 and 2022 were $1,200,000 and $1,100,000, respectively. 5. Property, plant and equipment of $1,500,000 was purchased for cash.