The comparative consolidated statement of financial position at December 31, Year 2, and the consolidated income statement for Year 2 , of Parent Ltd. and its 70%-owned subsidiary, Sub, are shown below. Year 2 Year 1 Ordinary shares $800,0001,091,000$800,000535,000 Retained earnings Noncontrolling interest 534,500 Long-term liabilities Revenues $8,650,000 Cost of purchases and other expenses 8,182,100 Change in inventory (535,500) Depreciation 370,000 Goodwill impairment loss 49,5008,066,100 - On December 31, Year 1, Parent owned 100% of Sub. On this date, the shareholders' equity of Sub amounted to $1,135,000, and the parent's undepleted acquisition differential of $610,000 was allocated entirely to the goodwill of Sub. - On January 1, Year 2, Parent sold 30\% of its shares of Sub for $644,000 cash and recorded an increase to retained earnings of $120,500 on the transaction. Parent uses the equity method to account for its investment. - Parent paid $108,500 in dividends during Year 2. Required Prepare, in good form, a consolidated cash flow statement for Year 2 in accordance with the requirements of IAS 7. - On December 31, Year 1, Parent owned 100% of Sub. On this date, the shareholders' equity of Sub amounted to $1,135,000, and the parent's undepleted acquisition differential of $610,000 was allocated entirely to the goodwill of Sub. - On January 1, Year 2, Parent sold 30\% of its shares of Sub for $644,000 cash and recorded an increase to retained earnings of $120,500 on the transaction. Parent uses the equity method to account for its investment. - Parent paid $108,500 in dividends during Year 2. Required Prepare, in good form, a consolidated cash flow statement for Year 2 in accordance with the requirements of IAS 7