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Brief Exercise 12-12 Equity method and dividends (LO12-6) Turner Company owns 30% of the outstanding stock of ICA Company. During the current year, ICA paid
Brief Exercise 12-12 Equity method and dividends (LO12-6) Turner Company owns 30% of the outstanding stock of ICA Company. During the current year, ICA paid a $7 million cash dividend on Its common shares. What effect did this dividend have on Turner's 2018 financial statements? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions rounded to 1 decimal place (I.e., 5,500,000 should be entered as 5.5). "Enter "O" for no effect.) Balance sheet Cash Investment revenue million million million Income statement
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