On June 30, 2021, Plaster, Inc., paid $956,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $239,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment $ 62,500 132,500 212,000 68,000 183,000 313,500 Accounts payable (36,500) (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) $ 78,000 182,000 At the end of 2021, the following comparative (2020 and 2021) balance sheets and consolidated income statement were available: Plaster, Inc. December 31, Consolidated December 31, 2020 Cash $ 44,500 Accounts receivable (net) 374,500 Inventory 429,500 Land Buildings (net) Equipment (net) Database Total assets Accounts payable Long-term liabilities Common stock Noncontrolling interest Retained earnings 310,500 253,500 1,862,500 0 $ 3,275,000 $ 83,000 415,000 1,867,500 0 909,500 Total liabilities and equities $ 3,275,000 2021 $ 251,300 502,300 744,900 378,500 386,500 2,110,000 172,900 $ 4,546,400 $ 111,000 1,284,100 1,867,500 265,000 1,018,800 $ 4,546,400 PLASTER, INC., AND SUBSIDIARY STUCCO COMPANY Consolidated Income Statement For the Year Ended December 31, 2021 Revenues Cost of goods sold Database amortization Depreciation Interest and other expenses Consolidated net income $ 764,000 194,000 9,100 10,200 $ 1,261,400 977,300 $ 284,100 Additional Information for 2021 On December 1, Stucco paid a $44,000 dividend. During the year, Plaster paid $140,000 in dividends. During the year, Plaster issued $869,100 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: Cash flows from investing activities: Cash flows from financing activities: Beginning cash, 1/1/21 Ending cash, 12/31/21