Homework Answers
| Dividend income to be reported by Flounder : | |
| Dividend = 12700 x (1-70%) | $ 3,810.00 |
| Dividend = 50200 x (1-80%) | $ 10,040.00 |
| Dividend from subsidiary (the parent company reduces its investment in the subsidiary by the dividend amount. ) | $ - |
| Total Dividend income to be reported by Flounder : | $ 13,850.00 |
| Percent Ownership | Dividends Received Deduction |
| < 20% | 70% |
| 20 - 80% | 80% |
| > 80% | 100% |
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