ABC declared a property dividend. The dividend consisted of 12,000 common shares of its investment in XYZ Company. The shares had originally been purchased at $3 per share and had a $1 par. The value of the shares on the declaration date is $9 per share. What is the first entry that should be recorded related to this dividend? Multiple Choice Investment in equity securities (XYZ) Gain on investments. 72,000 72,000 Investment in equity securities (XYZ) 72,000 Retained earnings 72,000 Retained earnings 108,000 Property dividends payable Gain 36,000 72,000 Retained earnings 108,000 Property dividends payable 108,000