Consolidated Statement of Cash Flows Sunny Valley Resort has owned 80 percent of Mountain Lodging, Inc. since Mountain Lodging's inception. The condensed consolidated balance sheets of Sunny Valley Resort at December 31, 2012 and 2011 and other relevant information are presented below: SUNNY VALLEY RESORT AND SUBSIDIARY Condensed Consolidated Balance Sheets December 31 (in thousands) 2012 2011 Assets Cash $360.000 5420.000 Other current assets 840.000 600.000 Plant assets 2.400.000 2520.000 Accumulated depreciation (900.000) (960.000) Goodwill 180.000 198.000 Total assets $2.880.000 52.778.000 Liabilities and Shareholders Equity Current liabilities S769.200 $930.000 Noncurrent liabilities 1,080.000 1,020.000 Shareholders equity-controlling interest 858.000 660.000 Noncontrolling interest 172.800 168.000 Total liabilities and shareholders' equity $2.880.000 $2.778.000 Additional information for 2012 (in thousands): 1. Consolidated net income to the controlling interest is $240,000. 2. Mountain Lodging reported net income of $72,000 on its own books, and paid $48,000 in dividends. 3. Consolidated depreciation expense was $210,000. 4. Plant assets with an original cost of $300,000 were retired from service and scrapped. Goodwill was impaired by $18,000. 5. Sunny Valley paid $42,000 in dividends. Prepare a consolidated statement of cash flows for 2012.
Consolidated Statement of Cash Flows Sunny Valley Resort has owned 80 percent of Mountain Lodging, Inc. since Mountain Lodging's inception. The condensed consolidated balance sheets of Sunny Valley Resort at December 31, 2012 and 2011 and other relevant information are presented below: SUNNY VALLEY RESORT AND SUBSIDIARY Condensed Consolidated Balance Sheets December 31 (in thousands) 2012 2011 Assets Cash $360.000 5420.000 Other current assets 840.000 600.000 Plant assets 2.400.000 2520.000 Accumulated depreciation (900.000) (960.000) Goodwill 180.000 198.000 Total assets $2.880.000 52.778.000 Liabilities and Shareholders Equity Current liabilities S769.200 $930.000 Noncurrent liabilities 1,080.000 1,020.000 Shareholders equity-controlling interest 858.000 660.000 Noncontrolling interest 172.800 168.000 Total liabilities and shareholders' equity $2.880.000 $2.778.000 Additional information for 2012 (in thousands): 1. Consolidated net income to the controlling interest is $240,000. 2. Mountain Lodging reported net income of $72,000 on its own books, and paid $48,000 in dividends. 3. Consolidated depreciation expense was $210,000. 4. Plant assets with an original cost of $300,000 were retired from service and scrapped. Goodwill was impaired by $18,000. 5. Sunny Valley paid $42,000 in dividends. Prepare a consolidated statement of cash flows for 2012.
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![Use negative signs with your answers, when appropriate.
Sunny Valley Resort and Subsidiary
Consolidated Statement of Cash Flows
For the year 2012
(in thousands)
Cash from operating activities
Consolidated net income
24
Add (subtract) items not affecting cash:
Depreciation expense
Goodwill impairment loss
Loss on retirement of plant assets
Changes in current assets and liabilities:
Increase in other current assets
Decrease in current liabilities
Net cash from operating activities
Cash from investing activities
Acquisition of plant assets
Cash from financing activities
Increase in noncurrent liabilities
Dividends paid to controlling shareholders
Dividends paid to noncontrolling shareholders
Net change in cash
Plus cash balance, January 1
Cash balance, December 31](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F715f04e3-accb-4cbd-8fa6-95a119f60687%2Fa301309b-ecea-419e-8ff0-ca429f4f0fea%2Fwxdjizb_processed.png&w=3840&q=75)
Transcribed Image Text:Use negative signs with your answers, when appropriate.
Sunny Valley Resort and Subsidiary
Consolidated Statement of Cash Flows
For the year 2012
(in thousands)
Cash from operating activities
Consolidated net income
24
Add (subtract) items not affecting cash:
Depreciation expense
Goodwill impairment loss
Loss on retirement of plant assets
Changes in current assets and liabilities:
Increase in other current assets
Decrease in current liabilities
Net cash from operating activities
Cash from investing activities
Acquisition of plant assets
Cash from financing activities
Increase in noncurrent liabilities
Dividends paid to controlling shareholders
Dividends paid to noncontrolling shareholders
Net change in cash
Plus cash balance, January 1
Cash balance, December 31
![Consolidated Statement of Cash Flows
Sunny Valley Resort has owned 80 percent of Mountain Lodging, Inc. since Mountain Lodging's inception. The condensed consolidated balance sheets of Sunny Valley Resort at December 31, 2012 and 2011 and other relevant information are presented below:
SUNNY VALLEY RESORT AND SUBSIDIARY
Condensed Consolidated Balance Sheets
December 31
(in thousands)
2012
2011
Assets
Cash
$360,000
$420,000
Other current assets
840,000
600,000
Plant assets
2,400,000 2,520.000
Accumulated depreciation
(900,000)
(960,000)
Goodwill
180,000
198,000
Total assets
$2,880,000 $2,778.000
Liabilities and Shareholders' Equity
Current liabilities
$769,200
$930,000
Noncurrent liabilities
1,080,000
1,020,000
Shareholders' equity-controlling interest
858.000
660,000
Noncontrolling interest
172,800
168.000
Total liabilities and shareholders' equity
$2,880,000 $2,778,000
Additional information for
tho
ds):
1. Consolidated net income to the controlling interest is $240,000.
2. Mountain Lodging reported net income of $72,000 on its own books, and paid $48,000 in dividends.
3. Consolidated depreciation expense was $210,000.
4. Plant assets with an original cost of $300,000 were retired from service and scrapped. Goodwill was impaired by $18,000.
5. Sunny Valley paid $42,000 in dividends.
Prepare a consolidated statement of cash flows for 2012.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F715f04e3-accb-4cbd-8fa6-95a119f60687%2Fa301309b-ecea-419e-8ff0-ca429f4f0fea%2Fruexxrf_processed.png&w=3840&q=75)
Transcribed Image Text:Consolidated Statement of Cash Flows
Sunny Valley Resort has owned 80 percent of Mountain Lodging, Inc. since Mountain Lodging's inception. The condensed consolidated balance sheets of Sunny Valley Resort at December 31, 2012 and 2011 and other relevant information are presented below:
SUNNY VALLEY RESORT AND SUBSIDIARY
Condensed Consolidated Balance Sheets
December 31
(in thousands)
2012
2011
Assets
Cash
$360,000
$420,000
Other current assets
840,000
600,000
Plant assets
2,400,000 2,520.000
Accumulated depreciation
(900,000)
(960,000)
Goodwill
180,000
198,000
Total assets
$2,880,000 $2,778.000
Liabilities and Shareholders' Equity
Current liabilities
$769,200
$930,000
Noncurrent liabilities
1,080,000
1,020,000
Shareholders' equity-controlling interest
858.000
660,000
Noncontrolling interest
172,800
168.000
Total liabilities and shareholders' equity
$2,880,000 $2,778,000
Additional information for
tho
ds):
1. Consolidated net income to the controlling interest is $240,000.
2. Mountain Lodging reported net income of $72,000 on its own books, and paid $48,000 in dividends.
3. Consolidated depreciation expense was $210,000.
4. Plant assets with an original cost of $300,000 were retired from service and scrapped. Goodwill was impaired by $18,000.
5. Sunny Valley paid $42,000 in dividends.
Prepare a consolidated statement of cash flows for 2012.
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