Using the data presented in P10-17:
a. Prepare a worksheet to develop a consolidated statement of cash flows for 20X3 using the direct method of computing cash flows from operations.
b. Prepare a consolidated statement of cash flows for 20X3.
In P10-17

The consolidated income statement for 20X3 contained the following amounts:

Metal and Ocean paid dividends of $30,000 and $20,000, respectively, in20X3.

$100,500 Accounts Receivable Buildings & Equipment Less: Accumulated Depreciation Total Assets 2 Wages Payable 2 Common Stock ($10 par value) Retained Earnings Noncontrolling Interest Total Liabilities & Owners Equity $490,000 Sales Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Amortization Expense Other Expenses Consolidated Net Income Income to Noncontrolling Interest $259,000 55,000 36,500 16,000 1,000 39,000 (406,500 $ 83,500 (9,000) 5 74 500 Income to Controlling Interest