The consolidated income statement for the year December 31, 2019, and comparative balance sheets for 2018 and 2019 for Parks Company and its 90% owned subsidiary SCR, Inc. are as follows:

SCR, Inc. declared and paid an $8,000 dividend during 2019.

Required:

Prepare a consolidated statement of cash flows using the direct method.

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PARKS COMPANY AND SUBSIDIARY Consolidated Income Statement for the Year Ended December 31, 2019 $239,000 Sales Cost of goods sold Gross margin Depreciation expense Other operating expenses 104,000 135,000 $27,000 72,000 99,000 Income from operations 36,000 Investment income 4,500 Consolidated net income 40,500 Noncontrolling interest in consolidated net income 3,000 Controlling interest in consolidated net income $37,500 PARKS COMPANY AND SUBSIDIARY Consolidated Balance Sheets December 31, 2018 and 2019 2019 2018 Cash $ 36,700 $ 16,000 Receivables 55,000 90,000 Inventory 126,000 92,000 Property, plant, and equipment (net of depreciation) Long-term investment 231,000 225,000 39,000 39,000 Goodwill 60,000 60,000 Total assets $547,700 $522,000 $ 67,500 $ 88,500 Accounts payable Accrued expenses Bonds payable, due July 1, 2020 30,000 41,000 100,000 197,500 32,200 150,000 279,500 Total liabilities Noncontrolling interest 30,000 Common stock 187,500 100,000 Retained earnings Total stockholders' equity 130,500 112,500 350,200 242,500 Total equities $547,700 $522,000