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Business, 07.10.2021 17:30 cuppykittyy

Marigold Corporation owned 16000 shares of Cullumber Corporation. These shares were purchased in 2017 for $ 134000. On November 15, 2021, Marigold declared a property dividend of one share of Cullumber for every ten shares of Marigold held by a stockholder. On that date, when the market price of Cullumber was $ 27 per share, there were 134000 shares of Marigold outstanding. What gain and net reduction in retained earnings would result from this property dividend

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Marigold Corporation owned 16000 shares of Cullumber Corporation. These shares were purchased in 201...
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