Sun Corporation was created on January 1, 20X2, and quickly became successful, On January 1, 20x6, its owner sold B0 percent of the stock to Planet Company at underlying book value. At the date of that sale, the fair value of the remaining shares was equal to 20 percent of the book value of Sun. Planet continued to operate the subsidiary as a separate legol enthy and used the equity method in accounting for its imvestment in Sun. The following consolidated financial statements have been prepared: During 20x6, Sun reported net income of $60,000 and paid dividends of $20,000 : Planet reported net income of $148,000 and paid dividends of $65,000. There were no intercompany transters during the period. Required: Prepare a worksheet for a consolidated statement of cash flows for 206 using the indirect method of computing cash flows from operations. Note: Values in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be Indicated with a minus sign, while all values in the "Consolidation Entries" columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet. During 20x6, Sun reported net income of $60,000 and paid divdends of $20,000. Planet reported net income af $148.000 and paid dividends of $65.000 There wore no intercompary transfers during the period Requlred: Prepare a worksheot for a consolidated statement of cash flows for 206 using the ind rect methcd of computing cash flows from operatiods Notes Volues in the first two columns (the "parent" and "subsidiary" balances) that are to be deducted should be indicatod with a minus sign, while all valoes in the "Consolidation Entrles" columns should be entered as positive valuen. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and eater this amount in the debit column of the workstheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet