Disclosure of consolidated dividends
On December 31, 2011, the separate company financial statements for Pan Corporation and its 70 percent owned subsidiary, Sad Corporation, had the following account balances related to dividends (in thousands):
|
Pan |
Sad |
|
|
Dividends for 2011 |
$1,200 |
$800 |
|
Dividends payable at December 31, 2011 |
600 |
200 |
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?