In its consolidated cash flow statement for the year ended December 31,202, Durango Corporation reported...
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In its consolidated cash flow statement for the year ended December 31,202, Durango Corporation reported operating cash inflows of $284,000, financing cash outflows of $230,000, investing cash outflows of $80,000, and an ending cash balance of $57,000. Durango purchased 70 percent of Steam Company's common stock on March 12 , 20X1, at book value. Steam reported net income of $30,000, paid dividends of $10,000 in 202, and is included in Durango's consolidated statements. Durango paid dividends of $45,000 in 202. The indirect method is used in computing cash flow from operations. Required: a. What was the consolidated cash balance at January 1,202 ? Note: Use cell A2 from the given information to complete this question. b. What amount was reported as dividends paid in the cash flow from financing activities section of the statement of cash flows? Note: Use cell A2 from the given information to complete this
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