On June 30, 2018, Plaster, Inc., paid $988,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $247,000. At acquisition date, Stucco reported the following book values for its assets and liabilities:

Cash	$	64,500
Accounts receivable		136,900
Inventory		219,200
Land		70,400
Buildings		189,400
Equipment		324,300
Accounts payable		(37,700	)

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)	$	80,400
Database (10-year remaining life)		187,600

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	$	45,700			$	258,100
Accounts receivable (net)		384,500				515,900
Inventory		441,100				764,900
Land		318,900				389,300
Buildings (net)		260,300				394,300
Equipment (net)		1,912,500				2,171,600
Database		0				178,220
Total assets	$	3,363,000			$	4,672,320
Accounts payable	$	85,400			$	114,200
Long-term liabilities		427,000				1,351,540
Common stock		1,921,500				1,921,500
Noncontrolling interest		0				272,600
Retained earnings		929,100				1,012,480
Total liabilities and equities	$	3,363,000			$	4,672,320

PLASTER, INC., AND SUBSIDIARY STUCCO COMPANY Consolidated Income Statement For the Year Ended December 31, 2018
Revenues				$	1,296,600
Cost of goods sold	$	785,200
Depreciation		199,200
Database amortization		9,380
Interest and other expenses		10,600			1,004,380
Consolidated net income				$	292,220

Additional Information for 2018

On December 1, Stucco paid a $47,200 dividend. During the year, Plaster paid $172,000 in dividends.

During the year, Plaster issued $924,540 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.

PLASTER INC. AND SUBSIDIARY STUCCO COMPANY
Consolidated Statement of Cash Flows
For the Year Ended December 31, 2018
Cash flows from operating activities:
		0
		$0
Cash flows from investing activities:
		0
Cash flows from financing activities:
		$0
		$0
Beginning cash, 1/1/18
Ending cash, 12/31/18		$0