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...

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: Additional information for 2012 (in thousands): 1. Consolidated net income to the controlling interest is $400,000. 2. Mountain Lodging reported net income of $120,000 on its own books, and paid $80,000 in dividends. 3. Consolidated depreciation expense was $350,000. 4. Plant assets with an original cost of $500,000 were retired from service and scrapped. Goodwill was impaired by $30,000. 5. Sunny Valley paid $70,000 in dividends. Required Prepare, in good form, a consolidated statement of cash flows for 2012. View Solution:

Sunny Valley Resort has owned 80 percent of Mountain Lodging