E3-5 Disclosure of consolidated dividends On December 31, 2016, the separate-company financial statements for Pam...
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Accounting
E3-5
Disclosure of consolidated dividends
On December 31, 2016, the separate-company financial statements for Pam Corporation and its 70 percent-owned subsidiary, Sun Corporation, had the following account balances related to dividends (in thousands):
| Pam | Sun | |
| Dividends for 2016 | $ 2,400 | $ 1,600 |
| Dividends payable at December 31, 2016 | $ 1,200 | $ 400 |
Required
1. At what amount will dividends be shown in the consolidated retained earnings statement?
2. At what amount should dividends payable be shown in the consolidated balance sheet?
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