Stinson Corporation owned 40,000 shares of Matile Corporation. These shares were purchased in 2014 for $360,000. On November 15, 2018, Stinson declared a property dividend of one share of Matile for every ten shares of Stinson held by a stockholder. On that date, when the market price of Matile was $28 per share, there were 360,000 shares of Stinson outstanding. What is the net reduction in retained earnings that would result from this property dividend? SO None of the answers are correct O $1.008.000 $144.000 $324.000 Manning Company issued 10,000 shares of its $5 par value common stock having a fair value of $25 per share and 15,000 shares of its $15 par value preferred stock having a fair value of $20 per share for a lump sum of $520,000. How much of the proceeds would be allocated to the common stock? O $276,250 None of the answers are correct. $283,636 $236.364 $250,000