The Following Comparative Consolidated Trial Balances Apply to Perella Company

The following comparative consolidated trial balances apply to Perella Company and its subsidiary Sherwood Company (80% control):
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$$\begin{array} { l r r } & 12 / 31 / 17 & 12 / 31 / 18 \\\text { Cash } & \$ 275,000 & \$ 300,800 \\\text { Trading securities portfolio (at market) } & 160,000 & 120,000 \\\text { Accounts receivable } & 350,000 & 379,600 \\\text { Inventories } & 316,000 & 268,000 \\\text { Land } & 95,000 & 180,000 \\\text { Property, plant and equipment } & 500,000 & 520,000 \\\text { Accumulated depreciation } & ( 135,000 ) & ( 152,000 ) \\\text { Goodwill } & 60,000 & 60,000 \\\text { Current liabilities } & ( 190,000 ) & ( 154,500 ) \\\text { Long-term notes payable } & ( 450,000 ) & ( 390,000 ) \\\text { NCI } & ( 161,000 ) & ( 188,780 ) \\\text { Paid-in Capital } & ( 660,000 ) & ( 670,000 ) \\\text { Retained Earnings } & ( 195,000 ) & ( 288,120 ) \\\text { Treasury Stock } & \underline { 35,000 } & \underline { \$ 15,000 } \\& \underline { \$ - } & \underline { \$ -}\end{array}$$ The following is additional information for 2018:
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a) No trading securities were sold nor were any investments added to the portfolio.
b) Land was acquired by issuing a $\$ 40,000$ note and giving cash for the balance.
c) Equipment (cost $\$ 50,000$ ; accumulated depreciation $\$ 40,000$ ) was sold for $\$ 3,000$
d) Dividends declared and paid: Perella 50,000 ; Sherwood $\$ 40,000$ .
e) Consolidated net income amounted to $\$ 178,900$ . Required:
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Prepare the consolidated statement of cash flows for the year ended December 31, 2018, for Perella and its subsidiary.
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