The accountant for Consolidated Enterprises Inc. has just finished preparing a consolidated balance sheet, income statement, and statement of changes in retained earnings for 20X3. The accountant has asked for assistance in preparing a statement of cash flows for the consolidated entity. Consolidated Enterprises holds 80 percent of the stock of Separate Way Manufacturing. The following items are proposed for inclusion in the consolidated cash flow statement:

Decrease in accounts receivable	$	17,000
Increase in accounts payable		10,000
Increase in inventory		22,000
Increase in bonds payable		148,000
Equipment purchased		397,000
Common stock repurchased		27,000
Depreciation reported for current period		71,000
Gain recorded on sale of equipment		8,000
Book value of equipment sold		36,000
Goodwill impairment loss		2,000
Sales		820,000
Cost of goods sold		320,000
Dividends paid by parent		50,000
Dividends paid by subsidiary		34,000
Consolidated net income for the year		430,000
Income assigned to the noncontrolling interest		14,000

Required: Prepare a statement of cash flows for Consolidated Enterprises Inc. using the indirect method of computing cash flows from operations. (Amounts to be deducted should be indicated with a minus sign.)

CONSOLIDATED ENTERPRISES INC. AND SUBSIDIARY Consolidated Statement of Cash Flows For the Year Ended December 31, 20X3 Cash Flows from Operating Activities: Adjustments for noncash items: Changes in operating assets and liabilities: Cash Flows from Investing Activities: Cash Flows from Financing Activities: Dividends Paid