On June 30, 2021, Plaster, Inc., paid $852,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $213,000. At the acquisition date, Stucco reported the following book values for its assets and liabilities:

Cash$55,800Accounts receivable118,200Inventory189,000Land60,600Buildings163,100Equipment279,500Accounts payable(32,600)

(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)$69,800Database (10-year remaining life)161,600

At the end of 2021, the following comparative (2020 and 2021) balance sheets and consolidated income statement was available:

Plaster, Inc.

December 31, 2020,Consolidated

December 31, 2021Cash$39,600$223,600Accounts receivable (net)333,300446,900Inventory382,200662,800Land276,300336,900Buildings (net)225,600338,700Equipment (net)1,657,5001,884,000Database0153,520Total assets$2,914,500$4,046,420Accounts payable$73,800$98,700Long-term liabilities369,0001,175,900Common stock1,660,5001,660,500Noncontrolling interest0235,700Retained earnings811,200875,620Total liabilities and equities$2,914,500$4,046,420

PLASTER, INC., AND SUBSIDIARY STUCCO COMPANY

Consolidated Income Statement

For the Year Ended December 31, 2021Revenues$1,122,600Cost of goods sold$680,000Depreciation172,800Database amortization8,080Interest and other expenses9,000869,880Consolidated net income$252,720

Additional Information for 2021

• On December 1, Stucco paid a $48,000 dividend. During the year, Plaster paid $156,000 in dividends.
• During the year, Plaster issued $806,900 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.)