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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 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 statement of cash flows for the consolidated entity. Consolidated Enterprises holds 30 percent of the stock of Separete Wey Manufacturing. The following items are proposed for inclusion in the consolidated cash flow statement: Decrease in accounts receivable Increase in accounts payable Increase in inventory Increase in bonds payable Equipment purchased Common stock repurchased Depreciation reported for current period Gain recorded on sale of equipment Book value of equipment sold Goodwill impairment loss Sales Cost of goods sold Dividends paid by parent Dividends paid by subsidiary Consolidated net incone for the year Incone assigned to the noncontrolling interest $ 21, ese 6,820 18. Be 149,000 395,000 31,20 73,ese 12,080 33,00 4,82e 838,888 334, ege se, eee 32.ee 460,080 8,00 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 Flowe For the Year Ended December 31, 20X3 Cash Flows from Operating Activities Adjustments for noncash items: Changes in operating assets and liabilities: S 0 Cash Flows from Investing Activities: 0 Cash Flows from Financing Activities: Dividends Paid 0 S 0
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