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Brief Exercise 12-11 (Algo) Equity investments and dividends [LO12-5] Turner Company owns 15% of the outstanding stock of ICA Company. During the current year, ICA
Brief Exercise 12-11 (Algo) Equity investments and dividends [LO12-5] Turner Company owns 15% of the outstanding stock of ICA Company. During the current year, ICA paid a $6.20 million cash dividend on its common shares. What effect did this dividend have on Turner's 2021 financial statements? (Enter your answers in dollars, not in millions. Amounts to be deducted should be indicated with a minus sign.) Answer is complete but not entirely correct. Balance sheet Cash 6,200,000 0 Income statement 930,000 Div revenue
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