FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Twilight Co. paid $2,800,000 to acquire all of the common stock of Aurna Corp. on
January 1, 2022. Aurna's reported earnings for 2022 totaled $512,000, and it paid
$160,000 in dividends during the year. The amortization of allocations related to the
investment was $28,000. Twilight's net income, not including any income from this
investment, was $3,310,000, and it paid dividends of $930,000.
On the consolidated financial statements for 2022, what amount should be shown for
consolidated dividends?
OL $160,000
O. $902,000
O.$930,000
OV.$950,000
OV. $1,090,000
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