Statement of Cash Flows, take$-$home problem $(10$ points$)$

Accounting $523,$ Spring $2024$

Balance sheet for Hickory High, Inc.

Assets $20212022$

Cash $621697$

Accounts Receivable $1,153986$

Inventory $547637$

Trading Securities $310556$

Equipment $1,2311,314$

A$/$D $(677)(811)$

Building $371371$

A$/$D $(167)(176)$

Land $1,4581,558$

Patents $143132$

Goodwill $837849$

Total Assets $5,8276,113$

Liabilities

Current Liabilities $1,2441,158$

Long$-$Term Notes Payable $700770$

Bonds Payable $1,0001,000$

Discount on Bonds Payable $(8)(6)$

Total Liabilities $2,9362,922$

Equity

Common Stock $508600$

Additional Paid$-$in Capital $1,5831,763$

Retained Earnings $720740$

NCI $8088$

Total Equity $2,8913,191$

Total Equity and Liabilities $5,8276,113$

Other information:

$1)$ Consolidated net income was $$108$

$2)$ Parent owns $80\%$ in each of its subsidies except for the new company it purchases in #$7$

$3)$ Parent did not sell any of its trading securities$,$ but it did purchase $$198$ in $2022$

$4)$ Company sold some old equipment during the year for $$23,$ historical cost was $$68,$ book value was $$26$

$5)$ New patents were purchased during the year for $$16$

$6)$ The company paid off $$50$ of its long$-$term notes but did borrow some new money using long$-$term notes

$7)$ On December $31$st$,$ Parent purchased $100\%$ of a new subsidiary by issuing common stock with a fair value of $$272.$ At the time of purchase, the new subsidiary had cash on its balance sheet totaling $$260$ and the subsidiary had net identifiable assets of $$260$ which equaled its book value.

$8)$ The old subsidiaries paid a total of $$50$ of dividends, the newly purchased subsidiary did not pay any dividends to the Parent.

Because this is a take$-$home problem, I am forcing you to really think. For example, I did not tell you the amount of dividends the Parent paid, I am making you think about how you can get that number. Use T$-$accounts for everything. If I do not state how the company purchased something, assume they paid cash $($i$.$e$.$ new equipment$).$

Prepare in proper form a consolidated statement of cash flows for Hickory High, Inc. and its consolidated subsidiaries for $2022.$