On September 20, 2014, Shunt Corporation declared the distribution of the following dividend to its stockholders of record as of September 30, 2014: • Investment in 100,000 shares of Ramen Corporation stock, carrying value $600,000; fair market value on September 20, $1,450,000; fair market value on September 30, $1,575,000. The entry to record the declaration of the property dividend would
include a debit to Retained Earnings of
a. $1,575,000.
b. $1,450,000.
c. $850,000.
d. $600,000.
B
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