Emily Corp.owned shares in Carr Ltd.On December 1, 2017, Emily declared and distributed a property dividend of Carr shares when their fair value exceeded the carrying amount.As a consequence of the dividend declaration and distribution, the accounting effects would be

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The Answer of Emily Corp.owned shares in Carr Ltd.On December 1, 2017, Emily declared and distributed a property dividend of Carr shares when their fair value exceeded the carrying amount.As a consequence of the dividend declaration and distribution, the accounting effects would be