this problem starts with acquisition im 20x6 but all info given is for the subsequebt years. i just need to know where to start on this to

get the cash flow goong

inguage. be for more information on expectations and how you be graded Do not hesitate to ask your instructor if you have any questions about this assignment. ist Option #2: Consolidated Cash Flow Statement P Corporation acquired 80 percent ownership of Company on January 1, 20X6, at underlying book value. At that date, the fair value of the noncontrolling Interest was equal to 20 percent of the book valve of S Cumpany. Consolidated balance sheets at January 1, 20XB, and December 31, 20XB, are as follows: Item Jan 1, 2X Cash 39 Dec 31, 20x8 $ 50,000 $ 80,000 Accounts Receivable 15+ 75.000 90,000 Inventory 85,000 100,000 Land 60,000 80,000 Buildings and Equipment 300,000 350,000 Less: Accumulated Depreciation of (90,000) (120,000) Patents 12.000 10,000 Total Assets S NA 590,000 Accounts Payable 18+ 40,000 $ 58,000 341 Wages Payable 257 20,000 16,000 Notes Payable 150,000 175,000 Common Stock (55 par value) 100,000 100,000 Retained Earnings Duplo 162,000 218,000 Noncontrolling Interest 20 20,000 23,000 Total Liabilities and Equities $ 492,000 $ 590,000 SON NA 332 $ 492,000 $ 4 Nochy SIO 31 The consolidated income statement for 20x8 contained the following amounts: 100 $ 400,000 Sales Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Amortization Expense Other Expenses Consolidated Net Income Income to Noncontrolling Interest Income to Controlling Interest $ 172,000 45,000 30,000 12,000 2,000 52,000 $ (313,000) 87,000 (6,000) 81,000 $ P and Spaid dividends of $25,000 and $15,000, respectively, in 20X8. Required: 1. Prepare a worksheet to develop a consolidated statement of cash flows for 20X8 using the indirect method of computing cash flows from operations. Prepare a consolidated statement of cash flows for 20X8. Excel formulas to make or evidence each of your calculations of all dollar amounts. Do not enter an ar amounts directly, unless it is unavoidable for obvious reasons. Use the tab function at the bottom Excel file to complete the assignment. are and submit one Excel spreadsheet for this assignment. Use the following naming convention