Turner Company owns 40% of the outstanding stock of ICA Company. During the current year,...
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Accounting
Turner Company owns 40% of the outstanding stock of ICA Company. During the current year, ICA paid a $5 million cash dividend on its common shares. What pretax effect did this dividend have on Turner's 2016 financial statements. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10) Enter 0 for no effect.)
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