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Pear Corporation acquired 75 percent ownership of Sugar Company on January 1, 20X1, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 25 percent of the book value of Sugar Company. Consolidated balance sheets at January 1, 20X3, and December 31, 20X3, are as follows: Item Assets Cash Accounts Receivable Inventory Land Buildings & Equipment Less: Accumulated Depreciation Patents Jan. 1, 20X3 Dec. 31, 20x3 $ 74,500 90,000 116,000 47,000 519,000 106,500 105,000 124,000 57,000 554,000 (179,500) (216,000) 9,000 $676,000 8,000 $ 738,500 Total Assets Liabilities and OwnersEquity $ 51,000 17,000 240,000 141,000 207,000 20,000 $676,000 Accounts Payable Wages Payable $ 56,000 11,000 255,000 141,000 251,500 24,000 $ 738,500 Notes Pavable Common Stock ($10 par value) Retained Earnings Noncontrolling Interest Total Liabilities and Owners EquityThe consolidated income statement for 20X3 contained the following amounts Sales Cost of Goods Sold Wage Expense Depreciation Expense Interest Expense Amortization Expense Other Expenses Consolidated Net Income Income to Noncontrolling Interest 483,000 $242,000 46,000 36,500 12,000 1,000 57,000 (394,500 $88,500 (10,000) Income to Controlling Interest $ 78,500 Pear and Sugar paid dividends of $34,000 and $24,000, respectively, in 20X3Required: a. Prepare a worksheet to develop a consolidated statement of cash flows for 20X3 using the direct method of computing cash flows from operations. (Values in the first two columns (the parent and subsidiary balances) that are to be deducted should be indicated with a minus sign, while all values in the Consolidation Entries columns should be entered as positive values. For accounts where multiple adjusting entries are required, combine all debit entries into one amount and enter this amount in the debit column of the worksheet. Similarly, combine all credit entries into one amount and enter this amount in the credit column of the worksheet.) PEAR CORPORATION AND SUBSIDIARY Consolidated Cash Flow Worksheet Year Ended December 31, 20X3 onsolidation Entries Balance 1/1/X3 Balance 12/31/X3 Item Debit Credit Assets Cash Accounts receivable Inventory Land Buildings and equipment Less: Accumulated depreciation Patents Total AssetsLiabilities & Equity Accounts payable Wages payable Notes payable Common stock Retained earnings Noncontrolling interest Total Liabilities & Equity Sales Cost of goods sold Wage expense Depreciation expense Interest expense Amortization expense Other expenses Consolidated net incomeCash Flows from Operating Activities: Cash received from customers Cash paid to suppliers Cash paid to employees Cash paid for interest on notes payable Cash Flows from Investing Activities Purchase of land Purchase of buildings and equipment Cash Flows from Financing Activities: Increase in notes payable Dividends Paid: To Pear Corporation shareholders To Sugar Company shareholders Increase in cashb. Prepare a consolidated statement of cash flows for 20X3. (Amounts to be deducted should be indicated with a minus sign.) PEAR CORPORATION AND SUBSIDIARY Consolidated Statement of Cash Flows Year Ended December 31, 20X3 Cash Flows from Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities Cash at beginning of year Cash at end of year

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