Reference no: EM13335530

A comparative balance sheet for 1996 and 1995 are reprinted as at December 31 year-end. The Parent and the 70% stake Subsidiary are shown in theBalance Sheet.

Q Ltd.

Comparative Balance Sheet

	Consolidated 1996	Consolidated 1995
Assets
Cash	$ 790	$ 840
Accounts receivable	620	710
Inventory	990	490
Plant and Equipment	4,800	5,100
Accumulated depreciation	(1,800)	(1,980)
Goodwill	360	396
Total assets	$ 5,760	$ 5,556
Liabilities
Current liabilities	$ 1,250	$ 1,780
Accrued liabilities	$ 288.4	$ 120
Long term liabilities	$ 2,160	$ 2,100
Total liabilities	3,698.4	4,000
Non-controlling interest	345.6	336
Common shares	1,000	900
Retained earnings	716	320
Total equities	2,061.6	1,556
Total Liabilities and equities	$ 5,760	$ 5,556

Details:

• In 1996 the subsidiary company paid dividends totaling $96,000
• Net income for 1996 was $480,000
• There was no change in Parent's 70% interest during the year.
• Equipment that was worn out and obsolete was sold for $10,000 at the end of the year. The equipment originally cost $600,000 and had a net book value of $65,000 on the date it was retired.

Using the information above, produce a consolidated cash flow statement (IFRS, Canada).