Question: Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent-owned subsidiary Oakley Co. follow: Additional Information for Fiscal Year 2014 Iverson and Oakley's
Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent-owned subsidiary Oakley Co. follow: Additional Information for Fiscal Year 2014 Iverson and Oakley's consolidated net income was $63,000. Oakley paid $4,000 in dividends during the year. Iverson paid $10,000 in dividends. Oakley sold $14, 900 worth of merchandise to Iverson during the year. There were no purchases or sales of long-term assets during the year. In the 2014 consolidated statement of cash flows for Iverson Company: Net cash flows from operating activities were $27, 200. $13, 600. $53, 700. $9, 300
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