3 chp 12 brief exercise

Tumer Company owns 35% of the outstanding stock of ICA Company. During the current year, ICA paid a $7 million cash dividend on its common shares. Ignore income taxes. What effect did this dividend have on Turner's 2024 financial statements? Note: Amounts to be deducted should be indicated with a minus sign. Enter your onswers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5 ). If there is no effect to an element of the financial statements, select "No effect