counting or by the method On December 15, 2020, when we vestment in common shares of Roue Ltd account hascarrivato 7.50 per share, Elves declares all these shares to its shareholders as property dwidend, to be distributed on December 31, 2020. Elves had originally paid $12 for each share. Rogue has 1,500,000 shares issued and outstanding for which the quoted market price was $ 10.50 per share on the declaration date and $13.50 per Share on the distribution date. Ignoring income taxes, what would be the reduction in Elves shareholders' equity as a result of the above transactions? 1) $ 1,125,000 2) $ 1,050,000 3) $ 1,200,000 04) $ 1,575,000 5) $ 1,000,000