Peter Co. held 80% of the common stock of Cottontail Inc. The following consolidated financial statements were for 2018 and 2019. Additional Information: Amortization of a trademark acquired at acquisition amounted to $7,000 per year. January 1, 2019: Peter issued bonds at par value. May 14, 2019: Peter sold a building for cash. The buildings historical cost was $84,000, and its book value on the date of sale was $42,000. July 7, 2019: Cottontail purchased equipment with cash. November 8, 2019: Peter issued common stock for cash. December 31, 2019: Cottontail issued cash dividends of $14,000. Prepare a consolidated statement of cash flows for this business combination for the year ending December 31, 2019. The consolidated company uses the indirect method to report its cash flows from operating activities. 2018 2019 Revenues $ 1,064,000 $ 1,232,000 Cost of goods sold ( 714,000) ( 756,000) Depreciation and amortization ( 126,000) ( 140,000) Gain on sale of building 0 28,000 Interest expense ( 42,000) ( 42,000) Noncontrolling interest $ 12,600 $ 15,400 Net income to controlling interest $ 169,400 $ 306,600 Retained earnings, January 1 $ 420,000 $ 519,400 Net income (from above) 169,400 306,600 Dividends paid ( 70,000) ( 140,000) Retained earnings, December 31 $ 519,400 $ 686,000 Cash $ 112,000 $ 196,000 Accounts receivable 210,000 196,000 Inventory 280,000 476,000 Buildings and equipment (net) 896,000 966,000 Trademark 210,000 203,000 Total assets $ 1,708,000 $ 2,037,000 Accounts payable $ (196,000) $ (140,000) Bonds payable (560,000) (720,000) Noncontrolling interest in Brewer Inc. ( 44,800) ( 57,400) Common stock (140,000) (168,000) Additional paid-in capital (247,800) (265,600) Retained earnings, December 31 (from above) (519,400) (686,000) Total liabilities and stockholders equity $ (1,708,000) $ (2,037,000).

Additional Information:

Amortization of a trademark acquired at acquisition amounted to $7000 per years.

January 1,2019: Peter issued bonds at par value.

May 14, 2019: Peter sold a building for cash. The building historical cost was $84000, and its book value on the date of sale was $42000.

July 7,2019: Cottontail purchased equipment with cash.

November 8,2019: Peter issued common stock for cash.

December 31, 2019: Cottontail issued cash dividends of $14000.

Prepare a consolidated statement of cash flows for this business combination for the year ending December 31,2019. The consolidated company uses the indirect method to report its cash flows from operating activities.