The accountant for Pil Corporation collected the following information that he thought might be useful in the preparation of the company’s consolidated statement of cash flows (in thousands): Cash paid for purchase of equipment $ 270Cash paid for other expenses 450Cash paid to suppliers 630Cash received from customers 1,600Cash received from sale of land 500Cash received from treasury stock sold 400Dividends from equity investees 40Dividends paid to noncontrolling stockholders 20Dividends paid to Pil’s stockholders 50Gain on sale of land 200Income from equity investees 80Interest received from short-term loan 5Noncontrolling interest share 45REQUIRED: Prepare the Cash Flows from Operating Activities section of the consolidated statement of cash flows for Pil Corporation and Subsidiaries using the direct method of presentation.View Solution:
The accountant for Pil Corporation collected the following infor