Following are the consolidated balance sheet accounts of Primer inc and its subsidiary, Sore Corporation, as of December 31,206 and 205 Additional information 1. On January 20, 20X6, Pimer issued 10,000 shares of its common stock for land having a fair value of $215.000 2. On February 5, 20X6. Primer relssued all of its treasury stock for $44,000 3. On May 15,20X6, Primer paid a $60,000 cash dividend on its common stock 4. On August 8, 20X6, Primer purchased equipment for $128,000 on the date of sile. 6. On December 15, 206, Sore paid a cash dividend or $52,000 on its common stock. 7 Sore recognized goodwill impairment ioss of $3,000 in 20X6. 8. Deferred income taxes represent temporory differences between book and tox bases of accounts receivable, marketable equity securites ond plant and equipment 8. Defered income taxes represent temporary differences between book and tax bases of accounts receivable, marketable equity securties and plant and equipment 9. Net income for 206 was as follows: 10. Primer owns 70 percent of its subsidiary. Sore. No change in the ownership interest in Sore occurred during 205 and 206 No intercompany transactions occurred other than the dividend paid to Primer Inc. by its subsidiary. Required: Prepare a consolidated statement of cash flows for Primer Inc. and its subsidiary for the year ended December 31,206, using the indirect method (Amounts to be deducted should be indicated with a minus sign.) Supplemental Schedule of Noncash Investing and Financing Activities: Following are the consolidated balance sheet accounts of Primer inc and its subsidiary, Sore Corporation, as of December 31,206 and 205 Additional information 1. On January 20, 20X6, Pimer issued 10,000 shares of its common stock for land having a fair value of $215.000 2. On February 5, 20X6. Primer relssued all of its treasury stock for $44,000 3. On May 15,20X6, Primer paid a $60,000 cash dividend on its common stock 4. On August 8, 20X6, Primer purchased equipment for $128,000 on the date of sile. 6. On December 15, 206, Sore paid a cash dividend or $52,000 on its common stock. 7 Sore recognized goodwill impairment ioss of $3,000 in 20X6. 8. Deferred income taxes represent temporory differences between book and tox bases of accounts receivable, marketable equity securites ond plant and equipment 8. Defered income taxes represent temporary differences between book and tax bases of accounts receivable, marketable equity securties and plant and equipment 9. Net income for 206 was as follows: 10. Primer owns 70 percent of its subsidiary. Sore. No change in the ownership interest in Sore occurred during 205 and 206 No intercompany transactions occurred other than the dividend paid to Primer Inc. by its subsidiary. Required: Prepare a consolidated statement of cash flows for Primer Inc. and its subsidiary for the year ended December 31,206, using the indirect method (Amounts to be deducted should be indicated with a minus sign.) Supplemental Schedule of Noncash Investing and Financing Activities
