On June 30, 2021, Plaster, Inc., paid $844,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $211,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment Accounts payable $ 55,300 117, 100 187,200 60,000 161,500 276,800 (32,300) (Parentheses indicate credit balances.) 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) Database (10-year remaining life) $ 69,200 160,200 At the end of 2021, the following comparative (2020 and 2021) balance sheets and consolidated income statement were available: Cash Accounts receivable (net) Inventory Land Buildings (net) Equipment (net) Database Plaster, Inc. December 31, 2020 $ 39,300 330,800 379,300 274,200 223,900 1,645,000 Consolidated December 31, 2021 $ 221,900 443,500 657,800 334,200 335,400 1,869,500 152.190 At the end of 2021, the following comparative (2020 and 2021) balance sheets and consolidated income statement were available: Cash Accounts receivable (net) Inventory Land Buildings (net) Equipment (net) Database Total assets Accounts payable Long-term liabilities Common stock Noncontrolling interest Retained earnings Total liabilities and equities Plaster, Inc. December 31, 2020 $ 39,300 330,800 379,300 274,200 223,900 1,645,000 0 $ 2,892,500 $ 73,200 366,000 1,647,000 0 806,300 $ 2,892,500 Consolidated December 31, 2021 $ 221,900 443,500 657,800 334,200 335,400 1,869,500 152,190 $ 4,014,490 $ 97,900 1,175,040 1,647,000 233,800 860,750 $ 4,014,490 PLASTER, INC., AND SUBSIDIARY STUCCO COMPANY Consolidated Income Statement For the Year Ended December 31, 2021 Revenues $ 1,113,800 Cost of goods sold $ 674,700 Depreciation 171,500 Database amortization 8,010 Interest and other expenses 8,900 863, 110 Consolidated net income $ 250,690 Additional Information for 2021 On December 1, Stucco paid a $47,200 dividend. During the year, Plaster paid $164,000 in dividends. During the year, Plaster issued $809,040 in long-term debt at par. Plaster reported no asset purchases or dispositions other than the acquisition of Stucco. Prepare a 2021 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.) PLASTER, INC., AND SUBSIDIARY STUCCO COMPANY Consolidated Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: 0 $ 0 Cash flows from investing activities: 0 Cash flows from financing activities: Prepare a 2021 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.) PLASTER, INC., AND SUBSIDIARY STUCCO COMPANY Consolidated Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: 0 $ 0 Cash flows from investing activities: 0 Cash flows from financing activities: $ 0 $ 0 Beginning cash, 1/1/21 Ending cash, 12/31/21 $ 0