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The following comparative consolidated trial balances apply to Parent Company and its Subsidiary Company (80% control): Cash Trading securities portfolio (at market) Accounts receivable Inventories
The following comparative consolidated trial balances apply to Parent Company and its Subsidiary Company (80% control): Cash Trading securities portfolio (at market) Accounts receivable Inventories Land Property, plant and equipment Accumulated depreciation Goodwill Current liabilities Long-term notes payable NCI Paid-in Capital Retained Earnings Treasury Stock 12/31/17 $ 275,000 160,000 350,000 316,000 95,000 500,000 (135,000) 60,000 (190,000) (450,000) (161,000) (660,000) (195,000) 35,000 $ --- 12/31/18 $ 300,800 120,000 379,600 268,000 180,000 520,000 (152,000) 60,000 (154,500) (390,000) (188,780) (670,000) (288,120) 15,000 $ --- The following is additional information for 2018: No trading securities were sold nor were any investments added to the portfolio. Land was acquired by issuing a $40,000 note and giving cash for the balance. c) Equipment (cost $50,000; accumulated depreciation $40,000) was sold for $3,000 d) Dividends declared and paid: Parent 50,000; Sub $40,000. Consolidated net income amounted to $178,900. Required: Prepare the consolidated statement of cash flows for the year ended December 31, 2018
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