Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent-owned subsidiary Oakley Co. follow:...

  

Transcribed Image Text:

Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent-owned subsidiary Oakley Co. follow: Cash Accounts receivable (net) Merchandise inventory Buildings and equipment (net) Trademark Totals Accounts payable Notes payable, long-term Noncontrolling interest Common stock, $10 par Retained earnings (deficit) Totals. Additional Information for Fiscal Year 2018 2018 $ 34,100 64,000 95,450 93,300 103,200 $ 390,050 $ 106,050 62,250 200,000 21,750 $ 390,050 Net cash flows from operating activities were 2017 $ 17,750 46,000 51,250 111,000 121,500 $ 347,500 $ 86,750 31,800 53,250 200,000 (24,300) $ 347,500 • Iverson and Oakley's consolidated net income was $68,250. • Oakley paid $6,000 in dividends during the year. Iverson paid $12,000 in dividends. Oakley sold $16,900 worth of merchandise to Iverson during the year. • There were no purchases or sales of long-term assets during the year. In the 2018 consolidated statement of cash flows for Iverson Company: Multiple Choice O O $6,900. $38,600. $19,300. $61,350. Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent-owned subsidiary Oakley Co. follow: Cash Accounts receivable (net) Merchandise inventory Buildings and equipment (net) Trademark Totals Accounts payable Notes payable, long-term Noncontrolling interest Common stock, $10 par Retained earnings (deficit) Totals. Additional Information for Fiscal Year 2018 2018 $ 34,100 64,000 95,450 93,300 103,200 $ 390,050 $ 106,050 62,250 200,000 21,750 $ 390,050 Net cash flows from operating activities were 2017 $ 17,750 46,000 51,250 111,000 121,500 $ 347,500 $ 86,750 31,800 53,250 200,000 (24,300) $ 347,500 • Iverson and Oakley's consolidated net income was $68,250. • Oakley paid $6,000 in dividends during the year. Iverson paid $12,000 in dividends. Oakley sold $16,900 worth of merchandise to Iverson during the year. • There were no purchases or sales of long-term assets during the year. In the 2018 consolidated statement of cash flows for Iverson Company: Multiple Choice O O $6,900. $38,600. $19,300. $61,350.

Answer rating: 100% (QA)

Cash flow from operations Net Income Depreciation Tra... View the full answer