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How will dividends be reported in consolidated statement

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Reference no: EM132800579

Question - The following information has been taken from the consolidation worksheet of Graham Company and its 80% owned subsidiary, Stage Company.

(1) Graham reports a loss on sale of land (to an outside party) of $5,000. The land cost Graham $20,000.

(2) Noncontrolling interest in Stage's net income was $30,000.

(3) Graham paid dividends of $15,000.

(4) Stage paid dividends of $10,000.

(5) Excess acquisition-date fair value over book value amortization was $6,000.

(6) Consolidated accounts receivable decreased by $8,000.

(7) Consolidated accounts payable decreased by $7,000.

Required - How will dividends be reported in consolidated statement of cash flows?

a. $25,000 decrease as a financing activity.

b. $10,000 decrease as a financing activity.

c. $23,000 decrease as a financing activity.

d. $17,000 decrease as a financing activity.

Reference no: EM132800579

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