P Inc. owns $80\%$ of S Corp. The consolidated financial statements of P follow:

P INC.

CONSOLIDATED BALANCE SHEET

At December $31,$ Year $4$

Year $4$

Year $3$

Cash

$$177,560$

$$65,400$

Accounts receivable

$163,100$

$180,600$

Inventory

$239,000$

$220,000$

Land

$98,500$

$213,000$

Buildings and equipment

$982,000$

$820,000$

Accumulated depreciation

$(313,420)$

$(275,520)$

Databases

$19,300$

$25,100$

$$1,366,040$

$$1,248,580$

Accounts payable

$$258,600$

$$211,980$

Accrued liabilities

$43,300$

$42,400$

Bonds payable

$420,000$

$360,000$

Bond premium

$13,440$

$16,200$

Common shares

$180,000$

$180,000$

Retained earnings

$423,820$

$414,000$

Non$-$controlling interest

$26,880$

$24,000$

$$1,366,040$

$$1,248,580$

P INC.

CONSOLIDATED INCOME STATEMENT

For the year ended December $31,$ Year $4$

Sales

$$1,069,000$

Cost of sales

$$587,950$

Selling expense

$160,350$

Administrative expense

$205,500$

Interest expense

$38,000$

Income tax

$45,500$

$1,037,300$

Net income

$$31,700$

Attributable to:

P$$s shareholders

$$26,820$

Non$-$controlling interest

$4,880$

P Inc. purchased its $80\%$ interest in S Corp. on January $1,$ Year $2,$ for $$148,000$ when S had net assets of $$90,000.$ The acquisition differential was allocated $$58,000$ to databases $(10-$year life$),$ with the balance allocated to equipment $(20-$year life$).$ P issued $$60,000$ in bonds on December $31,$ Year $4.$ S reported a net income of $$30,200$ for Year $4$ and paid dividends of $$10,000.$

Selling and administrative expense includes the following:

Depreciation of buildings and equipment

$ $37,900$

Database amortization

$5,800$

Loss on land sale

$6,000$

P reported a Year $4$ equity method income of $$26,820$ and paid dividends of $$17,000.$

Required:

Prepare a consolidated cash flow statement for Year $4.($Use Indirect Method$)$

NOTE: show detail computations or calculations and steps.