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On June 30, 2021, Plaster, Inc., paid $932,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $233,000. At acquisition date, Stucco reported the following book values for its assets and liabilities:

Cash	$	61,000
Accounts receivable		129,200
Inventory		206,600
Land		66,200
Buildings		178,200
Equipment		305,400
Accounts payable		(35,600	)

(Parentheses indicate credit balances.)

On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows:

Equipment (3-year remaining life)	$	76,200
Database (10-year remaining life)		177,800

At the end of 2021, the following comparative (2020 and 2021) balance sheets and consolidated income statement were available:

	Plaster, Inc. December 31, 2020				Consolidated December 31, 2021
Cash	$	43,600			$	246,200
Accounts receivable (net)		367,000				492,100
Inventory		420,800				729,900
Land		304,200				370,400
Buildings (net)		248,400				376,600
Equipment (net)		1,825,000				2,066,500
Database		0				168,910
Total assets	$	3,209,000			$	4,450,610
Accounts payable	$	81,200			$	108,600
Long-term liabilities		406,000				1,233,520
Common stock		1,827,000				1,827,000
Noncontrolling interest		0				259,300
Retained earnings		894,800				1,022,190
Total liabilities and equities	$	3,209,000			$	4,450,610

PLASTER, INC., AND SUBSIDIARY STUCCO COMPANY Consolidated Income Statement For the Year Ended December 31, 2021
Revenues				$	1,235,000
Cost of goods sold	$	748,100
Depreciation		190,100
Database amortization		8,890
Interest and other expenses		9,900			956,990
Consolidated net income				$	278,010

Additional Information for 2021

• On December 1, Stucco paid a $41,600 dividend. During the year, Plaster paid $116,000 in dividends.
• During the year, Plaster issued $827,520 in long-term debt at par.
• Plaster reported no asset purchases or dispositions other than the acquisition of Stucco.

Prepare a 2021 consolidated statement of cash flows for Plaster and Stucco. Use the indirect method of reporting cash flows from operating activities. (Negative amounts and amounts to be deducted should be indicated by a minus sign.)

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