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Turner Company owns 35% of the outstanding stock of ICA Company. During the current year, ICA paid a $6 million cash dividend on its
Turner Company owns 35% of the outstanding stock of ICA Company. During the current year, ICA paid a $6 million cash dividend on its common shares What effect did this dividend have on Turner's 2021 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). If there is no effect to an element of the financials statements, select "No effect") Answer is complete but not entirely correct. Balance sheet Cash Dividend revenue Income statement No effect 2.1 million 2.1 million 0.0 million
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