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Pursley, Inc. owns 70 percent of Harry Corp. The consolidated income statement for a year reports $50,000 Noncontrolling Interest in Harry Corp.'s Net Income. Harry
Pursley, Inc. owns 70 percent of Harry Corp. The consolidated income statement for a year reports $50,000 Noncontrolling Interest in Harry Corp.'s Net Income. Harry paid dividends in the amount of $80,000 for the year. What are the effects of these transactions in the consolidated statement of cash flows for the year?
Financing Activities | Operating Activities | |
A) | Increased by $24,000 | Increased by $15,000 |
B) | Decreased by $15,000 | Unaffected |
C) | Unaffected | Decreased by $15,000 |
D) | Decreased by $24,000 | Unaffected |
E) | Unaffected | Increased by $24,000 |
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