Please do not give solution in image format thanku Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent-owned subsidiary Oakley Co. follow:CashAccounts receivable (net)Merchandise inventoryBuildings and equipment (net)TrademarkTotalsAccounts payableNotes payable, long-termNon controlling interestCommon stock, $10 par.Retained earnings (deficit)TotalsAdditional Information for Fiscal Year 2021Net cash flows from operating activities were:Multiple ChoiceO• Iverson and Oakley's consolidated net income was $56,750.• Oakley paid $7,000 in dividends during the year. Iverson paid $14,000 in dividends.• Oakley sold $15,900 worth of merchandise to Iverson during the year.• There were no purchases or sales of long-term assets during the year.OIn the 2021 consolidated statement of cashflows for Iverson Company:OO$15,700.$41,050.2021$ 19,50042, 200106,550101,400105,000$ 374,650$91,200$20.700.067,700200,00015,750$ 374,650$41,400.2020$ 19,95022,00049,750121,000126,000$ 338,700$70,50026,10059,500200,000(17,400)$ 338,700

CASH FLOW STATEMENT Cash flow statement is additional information to user of financial statement.…

Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent-owned subsidiary Oakley Co. follow: 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. Additional Information for Fiscal Year 2021 Net cash flows from operating activities were: Multiple Choice • Iverson and Oakley's consolidated net income was $56,750. • Oakley paid $7,000 in dividends during the year. Iverson paid $14,000 in dividends. O • Oakley sold $15,900 worth of merchandise to Iverson during the year. • There were no purchases or sales of long-term assets during the year. O In the 2021 consolidated statement of cash flows for Iverson Company: O $15,700. 2021 $ 19,500 42, 200 106,550 101,400 105,000 $ 374,650 $91,200 $41,050. 0 67,700 200,000 15,750 $ 374,650 $20.700. 2020 $ 19,950 22,000 49,750 121,000 126,000 $ 338,700 $41,400. $70,500 26,100 59,500 200,000 (17,400) $ 338,700

Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent-owned subsidiary Oakley Co. follow: 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. Additional Information for Fiscal Year 2021 Net cash flows from operating activities were: Multiple Choice • Iverson and Oakley's consolidated net income was $56,750. • Oakley paid $7,000 in dividends during the year. Iverson paid $14,000 in dividends. O • Oakley sold $15,900 worth of merchandise to Iverson during the year. • There were no purchases or sales of long-term assets during the year. O In the 2021 consolidated statement of cash flows for Iverson Company: O $15,700. 2021 $ 19,500 42, 200 106,550 101,400 105,000 $ 374,650 $91,200 $41,050. 0 67,700 200,000 15,750 $ 374,650 $20.700. 2020 $ 19,950 22,000 49,750 121,000 126,000 $ 338,700 $41,400. $70,500 26,100 59,500 200,000 (17,400) $ 338,700

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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