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The Following Information Was Derived from the 2020consolidated Financial Statements

Question 50

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The following information was derived from the 2020consolidated financial statements of X Inc., which owns 80% of Y Inc. as well as 40% of Z Inc.:
 Equity Earnings from Z Inc. $120,000 Decrease in Accounts Payable $5,000 Increase in Accounts Receivable $10,000 Increase in Inventory $20,000 Increase in Bonds Payable $40,000 Depreciation $20,000 Loss on sale of machinery $10,000 Carrying value of machinery sold $60,000 Dividends received from Z Inc. $10,000 Purchase of a building for cash $400,000 Goodwill impairment loss $5,000 Entity Net Income allocated to non-controlling interest $5,000 Consolidated net income allocated to Parent $950,000 Dividends paid by X Inc. $40,000 Dividends paid by Y Inc. $12,000\begin{array}{|l|r|}\hline \text { Equity Earnings from Z Inc. } & \$ 120,000 \\\hline \text { Decrease in Accounts Payable } & \$ 5,000 \\\hline \text { Increase in Accounts Receivable } & \$ 10,000 \\\hline \text { Increase in Inventory } & \$ 20,000 \\\hline \text { Increase in Bonds Payable } & \$ 40,000 \\\hline \text { Depreciation } & \$ 20,000 \\\hline \text { Loss on sale of machinery } & \$ 10,000 \\\hline \text { Carrying value of machinery sold } & \$ 60,000 \\\hline \text { Dividends received from Z Inc. } & \$ 10,000 \\\hline \text { Purchase of a building for cash } & \$ 400,000 \\\hline \text { Goodwill impairment loss } & \$ 5,000 \\\hline \text { Entity Net Income allocated to non-controlling interest } & \$ 5,000 \\\hline \text { Consolidated net income allocated to Parent } & \$ 950,000 \\\hline \text { Dividends paid by X Inc. } & \$ 40,000 \\\hline \text { Dividends paid by Y Inc. } & \$ 12,000\\\hline\end{array} The cash balance at the start of 2020 was $200,000.
Required:
Prepare the consolidated statement of cash flows for Lime Inc for the year ended December 31, 2020.
X Inc.
Consolidated Statement of Cash Flows

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