On June 30, 2018, Plaster, Inc , paid $908,000 for 80 percent of Stucco Company's outstanding stock Plaster assessed the acquisition date fair value of the 20 percent noncontrolling interest at $227,000 At acquisition date, Stucco reported the following book values for its assets and liabilities Cash $ 59,300 Accounts receivable 125,900 Inventory 201,600 Land 64,800 Buildings 174,300 Equipment 298,400 Accounts payable (34,700 ) On June 30, Plaster allocated the excess acquisition date fair value over book value to Stucco's assets as follows Equipment (3 year remaining life) $ 74,000 Database (10 year remaining life) 171,400 At the end of 2018, the following comparative (2017 and 2018) balance sheets and consolidated income statement were available Plaster, Inc December 31, 2017 Consolidated December 31, 2018 Cash $ 41,700 $ 235,500 Accounts receivable (net) 350,800 470,700 Inventory 402,500 697,800 Land 291,000 355,800 Buildings (net) 237,500 360,300 Equipment (net) 1,745,000 1,984,400 Database 0 162,830 Total assets $ 3,068,500 $ 4,267,330 Accounts payable $ 78,000 $ 104,300 Long term liabilities 390,000 1,172,960 Common stock 1,755,000 1,755,000 Noncontrolling interest 0 249,000 Retained earnings 845,500 986,070 Total liabilities and equities $ 3,068,500 $ 4,267,330 PLASTER, INC , AND SUBSIDIARY STUCCO COMPANY Consolidated Income Statement For the Year Ended December 31, 2018 Revenues $ 1,184,200 Cost of goods sold $ 717,100 Depreciation 181,900 Database amortization 8,570 Interest and other expenses 9,700 917,270 Consolidated net income $ 266,930 Additional Information for 2018 On December 1, Stucco paid a $48,800 dividend During the year, Plaster paid $92,000 in dividends During the year, Plaster issued $782,960 in long term debt at par Plaster reported no asset purchases or dispositions other than the acquisition of Stucco Prepare a 2018 consolidated statement of cash flows for Plaster and Stucco Use the indirect method of reporting cash flows from operating activities (Negative amounts and amounts to be deducted should be indicated by a minus sign )

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On June 30, 2018, Plaster, Inc., paid $908,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20

On June 30, 2018, Plaster, Inc., paid $908,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $227,000. At acquisition date, Stucco reported the following book values for its assets and liabilities:


Cash	$	59,300
Accounts receivable		125,900
Inventory		201,600
Land		64,800
Buildings		174,300
Equipment		298,400
Accounts payable		(34,700	)

On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows:


Equipment (3-year remaining life)	$	74,000
Database (10-year remaining life)		171,400

At the end of 2018, the following comparative (2017 and 2018) balance sheets and consolidated income statement were available:

	Plaster, Inc. December 31, 2017		Consolidated December 31, 2018
Cash	$	41,700	$	235,500
Accounts receivable (net)		350,800		470,700
Inventory		402,500		697,800
Land		291,000		355,800
Buildings (net)		237,500		360,300
Equipment (net)		1,745,000		1,984,400
Database		0		162,830
Total assets	$	3,068,500	$	4,267,330
Accounts payable	$	78,000	$	104,300
Long-term liabilities		390,000		1,172,960
Common stock		1,755,000		1,755,000
Noncontrolling interest		0		249,000
Retained earnings		845,500		986,070
Total liabilities and equities	$	3,068,500	$	4,267,330

PLASTER, INC., AND SUBSIDIARY STUCCO COMPANY Consolidated Income Statement For the Year Ended December 31, 2018
Revenues			$	1,184,200
Cost of goods sold	$	717,100
Depreciation		181,900
Database amortization		8,570
Interest and other expenses		9,700		917,270
Consolidated net income			$	266,930

Additional Information for 2018

On December 1, Stucco paid a $48,800 dividend. During the year, Plaster paid $92,000 in dividends.
During the year, Plaster issued $782,960 in long-term debt at par.
Plaster reported no asset purchases or dispositions other than the acquisition of Stucco.

Prepare a 2018 consolidated statement of cash flows for Plaster and Stucco. Use the indirect method of reporting cash flows from operating activities. (Negative amounts and amounts to be deducted should be indicated by a minus sign.)