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Wendy Day Kite Company owns 40% of the outstanding stock of Strong String Company. During the current year, Strong String paid a $15 million cash
Wendy Day Kite Company owns 40% of the outstanding stock of Strong String Company. During the current year, Strong String paid a $15 million cash dividend on its common shares. What effect does Strong String's dividend have on Wendy Day's financial statements? (Select "No effect" if none of the categories apply for a particular item. Enter your answer in millions. (i.e., $10,000,000 should be entered as 10).) Net income million million Total assets
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