Question: On June 3 0 , 2 0 2 4 , Plaster, Incorporated, paid ( $ 8 6 0 , 0 0 0

On June 30,2024, Plaster, Incorporated, paid \(\$ 860,000\) for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at \(\$ 215,000\). At acquisition date, Stucco reported the following book values for its assets and liabilities: (Parentheses indicate credit balances.) On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows: At the end of 2024, the following comparative (2023 and 2024) balance sheets and consolidated income statement were available:Plaster, Incorporated December 31,2023Consolidated December 31,2024 PLASTER, INCORPORATED, AND SUBSIDIARY STUCCO COMPANY Consolidated Income Statement For the Year Ended December 31,2024
Additional Information for 2024
- On December 1, Stucco paid a \(\$ 48,800\) dividend. During the year, Plaster paid \(\$ 148,000\) in dividends.
- During the year, Plaster issued \(\$ 804,760\) in long-term debt at par.
- Plaster reported no asset purchases or dispositions other than the acquisition of Stucco.
Required:
Prepare a 2024 consolidated statement of cash flows for Plaster and Stucco. Use the indirect method of reporting cash flows from operating activities.
Note: Negative amounts and amounts to be deducted should be indicated by a minus sign. \begin{tabular}{|l|l|l|}
\hline \multicolumn{3}{|c|}{PLASTER, INCORPORATED, AND SUBSIDIARY STUCCO COMPANY}\\
\hline \multicolumn{3}{|c|}{Consolidated Statement of Cash Flows}\\
\hline \multicolumn{3}{|c|}{For the Year Ended December 31,2024}\\
\hline Cash flows from operating activities: & & \\
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\hline Cash flows from investing activities: & & \\
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\hline Cash flows from financing activities: & & \\
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\hline Beginning cash, 1/1/24 & & \\
\hline Ending cash, 12/31/24 & & \\
\hline
\end{tabular}
On June 3 0 , 2 0 2 4 , Plaster, Incorporated,

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