19. The following comparative consolidated trial balances apply to P Company and its subsidiary S Cormpany...

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19. The following comparative consolidated trial balances apply to P Company and its subsidiary S Cormpany (30% control) 1201/20 S275,000 310,000 316,000 95,000 500,000 (135,000) 60.000 (190,000) (450,000) (161.000) (660,000) (195,000) 35.000 Cash Accounts receivable Inventories Land $ 300,800 499.600 268.000 I80,000 520,000 (152.000) 60,000 (154,500) (390,000) (188, 780) (670,000) (288, 120) 15.000 Property, plant and equipment Accumulated depreciation Goodwill Current liabilities Long-term notes payable NCI Paid-in Capital Retained Eamings Treasury Stock The following is additional information for 2021: Equipment (cost $50,000, accumulated depreciation $40,000) was sold for $3,000 Consolidated net income amounted to $178,900. a) b) Required: Prepare the operating cash flows section of the consolidated statement of cash flows for the year ended December 31, 2021, for Perella and its subsidiary. 19. The following comparative consolidated trial balances apply to P Company and its subsidiary S Cormpany (30% control) 1201/20 S275,000 310,000 316,000 95,000 500,000 (135,000) 60.000 (190,000) (450,000) (161.000) (660,000) (195,000) 35.000 Cash Accounts receivable Inventories Land $ 300,800 499.600 268.000 I80,000 520,000 (152.000) 60,000 (154,500) (390,000) (188, 780) (670,000) (288, 120) 15.000 Property, plant and equipment Accumulated depreciation Goodwill Current liabilities Long-term notes payable NCI Paid-in Capital Retained Eamings Treasury Stock The following is additional information for 2021: Equipment (cost $50,000, accumulated depreciation $40,000) was sold for $3,000 Consolidated net income amounted to $178,900. a) b) Required: Prepare the operating cash flows section of the consolidated statement of cash flows for the year ended December 31, 2021, for Perella and its subsidiary.

Answer rating: 100% (QA)

Cash flows operating activities Amount Amount Consolidated net income 178900 Adjust... View the full answer