Problem 6-7 (LO 6-4)

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

		2014		2013
Cash	$	14,100	$	10,400
Accounts receivable (net)		47,550		28,250
Merchandise inventory		100,200		51,000
Buildings and equipment (net)		106,800		120,000
Trademark		114,800		131,500
Totals	$	383,450	$	341,150
Accounts payable	$	89,400	$	73,000
Notes payable, long-term		0		29,400
Noncontrolling interest		67,750		59,250
Common stock, $10 par		200,000		200,000
Retained earnings (deficit)		26,300		(20,500)
Totals	$	383,450	$	341,150

Additional Information for Fiscal Year 2014

	Iverson and Oakleys consolidated net income was $68,500.
	Oakley paid $6,000 in dividends during the year. Iverson paid $12,000 in dividends.
	Oakley sold $12,000 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 financing activities were

$(46,300).

$(41,400).

$(42,600).

$(51,100).