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A 70%-owned subsidiary declares and pays a cash dividend. What effect does the dividend have on retained earnings and noncontrolling interest in the consolidated balance

A 70%-owned subsidiary declares and pays a cash dividend. What effect does the dividend have on retained earnings and noncontrolling interest in the consolidated balance sheet?

		Decrease in retained earnings and no effect on noncontrolling interest.
		No effect on retained earnings and a decrease in the noncontrolling interest.
		Decreases both retained earnings and noncontrolling interest.
		No effect on either retained earnings or the noncontrolling interest.

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