2 continued. c. Desmond Inc. distributed property as a dividend. The company distributed its investment in Honeywell common shares which it carried on its books for $ 212,000 and had a market value of $450,000 on the date of distribution. a. write up the value of the Honeywell shares to market. b. declare the dividend. c. distribute the dividend. 3. The company repurchased shares for the treasury. a. The company repurchased 20,000 shares at a cost of $ 25. I b. The company resold the shares from treasury. The company sold 10,000 shares at $ 30. C. The company resold the shares from treasury. The company sold 10,000 shares at $23