Consolidated Cash Flow Statement of Pineda Corporation and its subsidiary Swamy Corporation as of December 2019 and 2020:
|
Assets |
2020 |
2019 |
Net Change Incr. (Decr.) |
|
$ |
$ |
$ |
|
|
Cash |
313,000 |
195,000 |
118,000 |
|
Marketable equity securities (at cost) |
175,000 |
175,000 |
|
|
Allowance to reduce marketable equity securities to market |
(13,000) |
(24,000) |
11,000 |
|
Accounts receivable (net) |
418,000 |
440,000 |
(22,000) |
|
Inventories |
595,000 |
525,000 |
70,000 |
|
Land |
385,000 |
170,000 |
215,000 |
|
Plant and equipment |
755,000 |
690,000 |
65,000 |
|
Accumulated depreciated |
(199,000) |
(145,000) |
(54,000) |
|
Goodwill |
60,000 |
60,000 |
0 |
|
Total Assets |
$2,489,000 |
$2,086,000 |
$403,000 |
|
Liabilities and Stockholder’s Equity |
|||
|
Current portion of long-term |
$150,000 |
$150,000 |
$ |
|
Accounts payable and accrued liabilities |
595,000 |
474,000 |
121,000 |
|
Note payable, long term |
300,000 |
450,000 |
(150,000) |
|
Deferred income taxes |
44,000 |
32,000 |
12,000 |
|
Non-controlling interest in net assets of subsidiary |
179,000 |
161,000 |
18,000 |
|
Common stock |
580,000 |
480,000 |
100,000 |
|
Additional paid-in capital |
303,000 |
180,000 |
123,000 |
|
Retained earnings |
338,000 |
195,000 |
143,000 |
|
Treasury stock (at cost) |
0 |
(36,000) |
36,000 |
|
Total liabilities and stockholders’ equity |
$2,489,000 |
$2,086,000 |
$403,000 |
Additional information:
Controlling interest in consolidated income $201,000
Swamy Corporation 110,000
Required:
Prepare the statement of cash flows for the Pineda Group using the indirect method and show all workings
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