80%

For 2001, a parent and subsidiary reported the following amounts from their own separate operations: Parent Subsidiary Net income $200,000 550.000 Dividends declared. 140.000 30.000 "Excludes earings and dividendis relating to subsidiary. of this amount, $20,000 was paid in 2001 and $10,000 was paid on 12702 equired 1. What is the consolidated net income for 2001? 2. What amount is reported as dividends in the 2001 consolidated statement of retained eamings? For 2001, a parent and subsidiary reported the following amounts from their own separate operations: Parent Subsidiary Net income $200,000 550.000 Dividends declared. 140.000 30.000 "Excludes earings and dividendis relating to subsidiary. of this amount, $20,000 was paid in 2001 and $10,000 was paid on 12702 equired 1. What is the consolidated net income for 2001? 2. What amount is reported as dividends in the 2001 consolidated statement of retained eamings