The 12/31/2018 balance sheet of Despot Inc. included the following:

Common stock, 25 million shares at $20 par	$	500	million
Paid-in capitalexcess of par		3,000	million
Retained earnings		980	million

In January 2018, Despot recorded a transaction with this journal entry:

Cash	150	million
Common stock				100	million
Paid-in capitalexcess of par				50	million

Despot declared a property dividend to give marketable equity securities to its common stockholders. The securities had cost Despot $7 million and currently have a fair value of $16 million. Which of the following would be included in recording the property dividend declaration?

	a.	Decrease in retained earnings for $7 million.
	b.	Increase in a liability for $16 million.
	c.	Decrease in marketable securities by $16 million.
	d.	All of these answer choices are correct.