On March 1, Boxer Company purchased 20,000 shares of King Co. stock for $25 per share. On May 1, Boxer decalred a property dividend of 5,000 shares of King Co. The market value of the King stock was $30 per share on the date of declaration and $32 per share on the date of distribution. When recording the property dividend, bby how much is retained earnings reduced?

 

$0

$125,000

$150,000

$160,000

Answer rating: 100% (QA)

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