Cheerleader Company held 80% of the common stock of Bad Dog Inc. and 40% of this Rock's convertible bonds. The following consolidated financial statements were for 2021 and 2022.   2021 2022 Revenues Cost of Goods Sold Depreciation & Amortization Gain on Sale of Building Interest Expense Non Controlling Interest Net Income to Controlling Interest 1,064,000 (714,000) (126,000) 0 (42,000) (12,600) 169,400 1,232,000 (756,000) (140,000) 28,000 (42,000) (15,400) 306,600

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Cheerleader Company held 80% of the common stock of Bad Dog Inc. and 40% of this Rock's convertible
bonds. The following consolidated financial statements were for 2021 and 2022.

  2021 2022

Revenues

Cost of Goods Sold

Depreciation & Amortization

Gain on Sale of Building

Interest Expense

Non Controlling Interest

Net Income to Controlling Interest

1,064,000

(714,000)

(126,000)

0

(42,000)

(12,600)

169,400

1,232,000

(756,000)

(140,000)

28,000

(42,000)

(15,400)

306,600

Retained Earnings (1/1/2022)

Net Income (above)

Dividends Paid

Retained Earnings (31/12/2022)

420,000

169,400

(70,000)

519,400

519,400

306,600

(140,000)

686,000

Cash

Accounts Receivable

Inventory

Buildings & Equipment (net)

Database

Total Assets

112,000

210,000

280,000

896,000

210,000

1,708,000

196,000

196,000

476,000

966,000

203,000

2,037,000

Accounts Payable

Bonds Payable

Non-Controlling Interest in Brewer Inc.

Common Stock

Additional Paid-In Capital

Retained Earnings (above)

Total Liabilities & Equity

(196,000)

(560,000)

(44,800)

(140,000)

(247,800)

(519,400)

1,708,000

(140,000)

(720,000)

(57,400)

(168,000)

(265,600)

(686,000)

(2,037,000)

Additional Information:
1. Bonds were issued during 2022 by the Pebble for cash.
2. Amortization of a database acquired in the original combination amounted to $7,000 per year.
3. A building with a cost of $84,000 but a $42,000 book value was sold by the Pebble for cash on May 11,
2022.
4. Equipment was purchased by the Rock on July 23, 2022, using cash.
5. Late in November 2022, the Pebble issued common stock for cash.
6. During 2022, the Rock paid dividends of $14,000.
Required:
Prepare the consolidated statement of cash flows for the consolidated company for the year ended
December 31, 2022. 

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