d. Cramer pays dividends of $5,000, $10,000, and $10,000 in 2016, 2017, and 2018, respectively. e. The corporate income tax rate of 30% applies to both companies. Assume an 80% dividend exclusion....

d. Cramer pays dividends of $5,000, $10,000, and $10,000 in 2016, 2017, and 2018, respectively.

e. The corporate income tax rate of 30% applies to both companies. Assume an 80% dividend exclusion.

Prepare all equity method adjustments for Ashland Company’s investment in Cramer Company on December 31, 2016, 2017, and 2018. Consider income tax implications. Supporting calculations and schedules should be in good form.