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.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 62BE: Brief ExerciseRatio Analysis Valiant Corporation has $1,800,000 in total liabilities, $800,000 of...
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