question archive The following information was derived from the 2017 consolidated financial statements of Parents Co
The following information was derived from the 2017 consolidated financial statements of Parents Co
Subject:AccountingPrice: Bought3
The following information was derived from the 2017 consolidated financial statements of Parents Co.,
which owns 80% of AAA Co. as well as 40% of BBB Co.:
Equity Earnings from BBB Co. $120,000
Decrease in Accounts Payable $5,000
Increase in Accounts Receivable $10,000
Increase in Inventory $20,000
Increase in Bonds Payable $40,000
Depreciation $20,000
Loss on sale of machinery $10,000
Carrying value of machinery sold $60,000
Dividends received from BBB Co. $10,000
Purchase of a building for cash $400,000
Goodwill impairment loss $5,000
Entity Net Income allocated to non-controlling interest $5,000
Consolidated net income allocated to Parent $950,000
Dividends paid by Parents Co. $40,000
Dividends paid by AAA Co. $12,000
The cash balance at the start of 2020 was $200,000.
Required:
Prepare the consolidated statement of cash flows for Lime Inc for the year ended December 31, 2017.
