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On January 2, Year 1, Pare Co. acquired 75% of Kidd Co.'s outstanding common stock. Selected balance sheet data at December 31, Year 1, is as follows:
During Year 1, Pare and Kidd paid cash dividends of $25,000 and $5,000, respectively, to their shareholders. There were no other intercompany transactions.In its December 31, Year 1, consolidated statement of retained earnings, what amount should Pare report as dividends paid?
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