(Solved): Following are the consolidated balance sheet accounts of Primer Incorporated and its subsidiary, S ...

Following are the consolidated balance sheet accounts of Primer Incorporated and its subsidiary, Sore Corporation, as of December

and

. \table[[,,Net Increase],[(Decrease),,]] Additional Information On January

, Primer issued 10,000 shares of its common stock for land having a fair value of

. On February 5, 20X6, Primer reissued all of its treasury stock for

. On May 15, 20X6, Primer paid a

cash dividend on its common stock. On August 8, 20X6, Primer purchased equipment for

. On September 30, 20X6, Primer sold equipment for

. The equipment cost

and had a carrying amount of

on the date of sale. On December

, Sore paid a cash dividend of

on its common stock. Sore recognized goodwill impairment loss of

in

. Deferred income taxes represent temporary differences between book and tax bases of accounts receivable, marketable equity securities and plant and equipment. Net income for 20X6 was as follows:

Primer owns 70 percent of its subsidiary, Sore. No change in the ownership interest in Sore occurred during 20X5 and 20X6. No intercompany transactions occurred other than the dividend paid to Primer Incorporated by its subsidiary.Following are the consolidated balance sheet accounts of Primer Incorporated and its subsidiary, Sore Corporation, as of December

and

. \table[[,,Net Increase],[(Decrease),,]] Additional Information On January

, Primer issued 10,000 shares of its common stock for land having a fair value of

. On February 5, 20X6, Primer reissued all of its treasury stock for

. On May 15, 20X6, Primer paid a

cash dividend on its common stock. On August 8, 20X6, Primer purchased equipment for

. On September 30, 20X6, Primer sold equipment for

. The equipment cost

and had a carrying amount of

on the date of sale. On December

, Sore paid a cash dividend of

on its common stock. Sore recognized goodwill impairment loss of

in

. Deferred income taxes represent temporary differences between book and tax bases of accounts receivable, marketable equity securities and plant and equipment. Net income for 20X6 was as follows:

Primer owns 70 percent of its subsidiary, Sore. No change in the ownership interest in Sore occurred during 20X5 and 20X6. No intercompany transactions occurred other than the dividend paid to Primer Incorporated by its subsidiary.Required: Prepare a consolidated statement of cash flows for Primer Incorporated and its subsidiary for the year ended December 31, 20X6, using the indirect method. Note: Amounts to be deducted should be indicated with a minus sign. Supplemental Schedule of Noncash Investing and Financing Activities: