On June 30, 2021, Plaster, Inc , paid $884,000 for 80 percent of Stucco Company's outstanding stock Plaster assessed the acquisition date fair value of the 20 percent noncontrolling interest at $221,000 At acquisition date, Stucco reported the following book values for its assets and liabilities Cash $ 57,800 Accounts receivable 122,600 Inventory 196,200 Land 63,000 Buildings 169,500 Equipment 290,300 Accounts payable (33,800 ) (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) $ 72,200 Database (10 year remaining life) 167,200 At the end of 2021, the following comparative (2020 and 2021) balance sheets and consolidated income statement were available Plaster, Inc December 31, 2020 Consolidated December 31, 2021 Cash $ 40,800 $ 230,400 Accounts receivable (net) 343,300 460,500 Inventory 393,800 682,800 Land 284,700 347,700 Buildings (net) 232,400 351,900 Equipment (net) 1,707,500 1,942,000 Database 0 158,840 Total assets $ 3,002,500 $ 4,174,140 Accounts payable $ 76,200 $ 101,900 Long term liabilities 381,000 1,123,340 Common stock 1,714,500 1,714,500 Noncontrolling interest 0 243,300 Retained earnings 830,800 991,100 Total liabilities and equities $ 3,002,500 $ 4,174,140 PLASTER, INC , AND SUBSIDIARY STUCCO COMPANY Consolidated Income Statement For the Year Ended December 31, 2021 Revenues $ 1,157,800 Cost of goods sold $ 701,200 Depreciation 178,000 Database amortization 8,360 Interest and other expenses 9,400 896,960 Consolidated net income $ 260,840 Additional Information for 2021 On December 1, Stucco paid a $51,200 dividend During the year, Plaster paid $68,000 in dividends During the year, Plaster issued $742,340 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 )

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On June 30, 2021, Plaster, Inc., paid $884,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20

On June 30, 2021, Plaster, Inc., paid $884,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $221,000. At acquisition date, Stucco reported the following book values for its assets and liabilities:


Cash	$	57,800
Accounts receivable		122,600
Inventory		196,200
Land		63,000
Buildings		169,500
Equipment		290,300
Accounts payable		(33,800	)

(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)	$	72,200
Database (10-year remaining life)		167,200

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

	Plaster, Inc. December 31, 2020		Consolidated December 31, 2021
Cash	$	40,800	$	230,400
Accounts receivable (net)		343,300		460,500
Inventory		393,800		682,800
Land		284,700		347,700
Buildings (net)		232,400		351,900
Equipment (net)		1,707,500		1,942,000
Database		0		158,840
Total assets	$	3,002,500	$	4,174,140
Accounts payable	$	76,200	$	101,900
Long-term liabilities		381,000		1,123,340
Common stock		1,714,500		1,714,500
Noncontrolling interest		0		243,300
Retained earnings		830,800		991,100
Total liabilities and equities	$	3,002,500	$	4,174,140

PLASTER, INC., AND SUBSIDIARY STUCCO COMPANY Consolidated Income Statement For the Year Ended December 31, 2021
Revenues			$	1,157,800
Cost of goods sold	$	701,200
Depreciation		178,000
Database amortization		8,360
Interest and other expenses		9,400		896,960
Consolidated net income			$	260,840

Additional Information for 2021

On December 1, Stucco paid a $51,200 dividend. During the year, Plaster paid $68,000 in dividends.
During the year, Plaster issued $742,340 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.)