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What gain and net reduction in retained earning respectively

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Question 1: Stain Corporation owned 30,000 shares of Clear Corporation. These shares were purchased in 2017 for P270,000. On November 15, 2019, Stain declared a property dividend of one share of Clear for every ten shares of Stain held by a shareholder. On that date, when the market price of Clear was P14 per share, there were 270,000 shares of Stain outstanding. What gain and net reduction in retained earnings respectively, would result from this property dividend?

Reference no: EM132894474

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