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Bolero Company holds 80% of the common stock of Rivera, Incorporated, and 30% of this subsidiary's convertible bonds. The following consolidated financial statements are for 2022 and 2023 (credit balances indicated by parentheses) Additional Information for Fiscal Year 2023 Cash Accounts receivable (net) Merchandise inventory Buildings and equipment (net) Trademark Totals Accounts payable Notes payable, long-term Noncontrolling interest Common stock, $10 par Retained earnings (deficit) Totals 2022 $10,500 28,750 40,500 118,500 122,500 $ 320,750 $74,750 25,200 42,500 200,000 (21,700) $ 320,750 Bolero and Rivera's consolidated net income was $ 36,750. Rivers paid $4,000 in dividends during the year. Bolero paid $14,000 in dividends. Rivers sold $18,100 worth of merchandise to Bolero during the year. . There were no purchases or sales of long-term assets during the year. 2023 $22.250 38,450 72,500 114,500 111 200 $ 358.900 $98,150 -0 49,200 200,000 20,550 $358,900 Required: Compute ONLY the net cash flows from operating activities section of consolidated Cash flows statement for this business combination for the year ending December 31. 2023. Use the indirect method to compute cash flow from operating activities.

Bolero Company holds 80% of the common stock of Rivera, Incorporated, and 30% of this subsidiary's convertible bonds. The following consolidated financial statements are for 2022 and 2023 (credit balances indicated by parentheses) Additional Information for Fiscal Year 2023 Cash Accounts receivable (net) Merchandise inventory Buildings and equipment (net) Trademark Totals Accounts payable Notes payable, long-term Noncontrolling interest Common stock, $10 par Retained earnings (deficit) Totals 2022 $10,500 28,750 40,500 118,500 122,500 $ 320,750 $74,750 25,200 42,500 200,000 (21,700) $ 320,750 Bolero and Rivera's consolidated net income was $ 36,750. Rivers paid $4,000 in dividends during the year. Bolero paid $14,000 in dividends. Rivers sold $18,100 worth of merchandise to Bolero during the year. . There were no purchases or sales of long-term assets during the year. 2023 $22.250 38,450 72,500 114,500 111 200 $ 358.900 $98,150 -0 49,200 200,000 20,550 $358,900 Required: Compute ONLY the net cash flows from operating activities section of consolidated Cash flows statement for this business combination for the year ending December 31. 2023. Use the indirect method to compute cash flow from operating activities.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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sources Help Bolero Company holds 80% of the common stock of Rivera, Incorporated, and 30% of this subsidiary's convertible bonds. The following consolidated financial statements are for 2022 and 2023 (credit balances indicated by parentheses) Additional Information for Fiscal Year 2023 Cash Accounts receivable (net) Merchandise inventory Buildings and equipment (net) Trademark Totals Accounts payable Notes payable, long-term Noncontrolling interest Common stock, $10 par Retained earnings (deficit) Totals Bolero and Rivera's consolidated net income was $ 36,750. 2022 $ 10,500 28.750 40,500 118,500 122,500 $320,750 $74,750 25,200 42,500 200,000 (21,700) $320.750 • Rivers paid $4,000 in dividends during the year. Bolero paid $14,000 in dividends. . Rivera sold $18,100 worth of merchandise to Bolero during the year. • There were no purchases or sales of long-term assets during the year. 2023 $ 22,250 38.450 72,500 114,500 111,200 $358,900 $98,150 -0- 49,200 200,000 20,550 $358.900 Required: Compute ONLY the net cash flows from operating activities section of consolidated Cash flows statement for this business combination for the year ending December 31, 2023. Use the indirect method to compute cash flow from operating activities.
Transcribed Image Text:sources Help Bolero Company holds 80% of the common stock of Rivera, Incorporated, and 30% of this subsidiary's convertible bonds. The following consolidated financial statements are for 2022 and 2023 (credit balances indicated by parentheses) Additional Information for Fiscal Year 2023 Cash Accounts receivable (net) Merchandise inventory Buildings and equipment (net) Trademark Totals Accounts payable Notes payable, long-term Noncontrolling interest Common stock, $10 par Retained earnings (deficit) Totals Bolero and Rivera's consolidated net income was $ 36,750. 2022 $ 10,500 28.750 40,500 118,500 122,500 $320,750 $74,750 25,200 42,500 200,000 (21,700) $320.750 • Rivers paid $4,000 in dividends during the year. Bolero paid $14,000 in dividends. . Rivera sold $18,100 worth of merchandise to Bolero during the year. • There were no purchases or sales of long-term assets during the year. 2023 $ 22,250 38.450 72,500 114,500 111,200 $358,900 $98,150 -0- 49,200 200,000 20,550 $358.900 Required: Compute ONLY the net cash flows from operating activities section of consolidated Cash flows statement for this business combination for the year ending December 31, 2023. Use the indirect method to compute cash flow from operating activities.
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