Sove & Exit Jarett, Corp declared a property dividend. The dividend consisted of 10,000 common shares of its investment in Chen Company. The shares had originally been purchased at $1 per share and had a $1 par. The value of the shares on the declaration date is $7 per share. What is the first entry that should be recorded related to this dividend? Multiple Choice Retained earnings 70,000 Property dividends payable Gain 10,000 60,000 Retained earnings Property dividends payable Investment in equity securities (XYZ) Gain on investments 70,000 70,000 60,000 60,000 Submit