Anderson, Inc. has owned 70% of its subsidiary, Arthur Corp., for several years. The consolidated balance sheets of Anderson, Inc. and Arthur Corp. are presented below: Additional information for 2021:The combination occurred using the equity method. Consolidated net income was $50,000. The noncontrolling interest share of consolidated net income of Arthur was $3,200.Arthur paid $4,000 in dividends.There were no purchases or disposals of plant & equipment or copyright this year.Net cash flow from financing activities was:
A) $(28,000).
B) $(35,000).
C) $(13,000).
D) $(63,000).
E) $(61,000).

Question

Anderson, Inc. has owned 70% of its subsidiary, Arthur Corp., for several years. The consolidated balance sheets of Anderson, Inc. and Arthur Corp. are presented below:  Additional information for 2021:The combination occurred using the equity method. Consolidated net income was $50,000. The noncontrolling interest share of consolidated net income of Arthur was $3,200.Arthur paid $4,000 in dividends.There were no purchases or disposals of plant & equipment or copyright this year.Net cash flow from financing activities was:
A) $(28,000). 
B) $(35,000). 
C) $(13,000). 
D) $(63,000). 
E) $(61,000).

Quizplus · Accepted Answer

The Answer of Anderson, Inc. has owned 70% of its subsidiary, Arthur Corp., for several years. The consolidated balance sheets of Anderson, Inc. and Arthur Corp. are presented below:  Additional information for 2021:The combination occurred using the equity method. Consolidated net income was $50,000. The noncontrolling interest share of consolidated net income of Arthur was $3,200.Arthur paid $4,000 in dividends.There were no purchases or disposals of plant & equipment or copyright this year.Net cash flow from financing activities was:
A) $(28,000). 
B) $(35,000). 
C) $(13,000). 
D) $(63,000). 
E) $(61,000).