Comparative consolidated balance sheet data for BIG Co and its 65% owned subsidiary LITTLE co are as
Question:
Comparative consolidated balance sheet data for BIG Co and its 65% owned subsidiary LITTLE co are as follow:
Item | 2020 | 2019 |
Cash | 12,000 | 25,000 |
Notes receivables (net) | 60,000 | 43,000 |
Supplies inventory | 90,000 | 50,000 |
PPE (net) | 100,000 | 110,000 |
Patent | 90,000 | 105,000 |
Totals | 352,000 | 352,000 |
Accounts payable | 80,000 | 68,000 |
Notes payable LT | 5000 | 30,000 |
Non controlling interests | 44,000 | 40,000 |
Common stock 10 $ par | 205,000 | 205,000 |
Retained earnings | 18,000 | (10,000) |
Totals | 352,000 | 352,000 |
Additional information :
The consolidated net income for 2020 is 50,000 $.
Little paid 10,000 $ in dividends during the year. Big paid 17,000 $ in dividends.
Little sold 16,000 $ of supplies to Big during the year.
There were no sales or purchases of long term assets during the year.
Required :
Compute the consolidated cash-flows from operating activities using indirect method.
Compute the consolidated cash-flows from investing activities
Compute the consolidated cash-flows from financing activities.