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please solve quickly 1011 Plastering holds 80 percent of Stucco Company's outstanding common stock. The following selected consolidated financial statements information to do 2019 and
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1011 Plastering holds 80 percent of Stucco Company's outstanding common stock. The following selected consolidated financial statements information to do 2019 and 2020 (credit balances indicated by parentheses) Plaster, Inc., and Consolidated Subsidiary Stucco 2019 2020 Rotained earnings, 111 $(1.240,000) $(1,524,000) Not income (524,000) (676,000) Retained earnings, 12/31 $(1,524,000) $(1,700,000) Cash $300,000 $430,000 Accounts receivable 600,000 600,000 Inventory 340,000 1,440,000 Buldings and equipment (net) 2,000,000 2,840.000 Databases 080,000 620,000 Accounts payable $(640,000) ${440,000) Bonds payable (1.640.000) 12.060,000) Noncontrolling interest in Stucco (168.000) (244,000) Common stock (440,000) (500,000) Additional paid in capital (748,000) (896,000) Revenues $(3.000.000) ${4,120,000) Cost of goods sold 2.440,000 2600,000 Depreciation and amortization 400.000 480.000 Loss on sale of equipment -0 120,000 Interest expense 160.000 160.000 Ut quipment -0 120,000 Interest expense 160,000 100,000 Consolidated net income to noncontrolling interest 76,000 84.000 to parent company 5(524,000) $(676,000) Additional Information for 2020: The subsidiary purchased a building on 10 April for $820,000 in cash Amortization of databases amounts to $10.000 per year The parent issued stock for cash on 1 July The parent sold equipment with a cost of $320,000 but a $160.000 book value for cash on August 20 During the year, the subsidiary paid dividends of $40,000 Both parent and subsidiary pay dividends in the same your dochored The parent issued bonds during the year for cash The only changes affecting retained earnings are not income and condividends pad Required: Prepare a consolidated statement of cash flows for this business combination for the year ending December 31, 2020 using the indirect mootod For the toolbar. ALT FORC) O ALTUN 10 Mac) B 1W 5 Paragraph A op 13 21. OoQ F XX 15 + 15 2 D BE Step by Step Solution
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