The consolidated income statement for the year December 31, 2024, and comparative balance sheets for 2023 and 2024 for Parks Company and its 90% owned subsidiary SCR, Inc. are as follows:

SCR, Inc. declared and paid an $8,000 dividend during 2024.

Required:
Prepare a consolidated statement of cash flows using the direct method. The following additional problems for interim acquisitions can be found online at www.wiley.com/college/jeter.

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PARKS COMPANY AND SUBSIDIARY Consolidated Income Statement for the Year Ended December 31, 2024 Sales Cost of goods sold Gross margin Depreciation expense Other operating expenses Income from operations Investment income Consolidated net income Noncontrolling interest in consolidated net income Controlling interest in consolidated net income $27,000 72,000 $239,000 104,000 135,000 99,000 36,000 4,500 40,500 3,000 $37,500