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Goehring, Inc. owns 70 percent of Harry Corp. The consolidated income statement for a year reports $40,000 Noncontrolling Interest in Harry Corp.'s Net Income. Harry

Goehring, Inc. owns 70 percent of Harry Corp. The consolidated income statement for a year reports $40,000 Noncontrolling Interest in Harry Corp.'s Net Income. Harry paid dividends in the amount of $100,000 for the year. What are the effects of these transactions in the consolidated statement of cash flows for the year?

A

No effects.

B

Increase in the operating section of $70,000.

C

Increase in the financing section of $70,000, and decrease in the operating section of $30,000.

D

Increase in the operating section of $70,000, and decrease in the financing section of $30,000.

E

Decrease in the financing section of $30,000.

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