Sun Corporation was created on January 1, 20X2, and quickly became successful. On January 1, 20X6, its
Question:
WEATHERBEE COMPANY AND SUBSIDIARY
Consolidated Retained Earnings Statement
Year Ended December 31, 20X6
Balance, January 1, 20X6 ..... $290,000
Income to Controlling Interest.... 148,000
$438,000
Dividends Declared, 20X6 ....... (65,000)
Balance, December 31, 20X6..... $373,000
During 20X6, Sun reported net income of $60,000 and paid dividends of $20,000; Weatherbee reported net income of $148,000 and paid dividends of $65,000. There were no intercompany transfers during the period.
Required
Prepare a worksheet for a consolidated statement of cash flows for 20X6 using the indirect method of computing cash flows fromoperations.
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Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
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