Concord Corporation owned 16000 shares of Ivanhoe Corporation. These shares were purchased in 2017 for $130000. On November 15, 2021, Concord declared a property dividend of one share of Ivanhoe for every ten shares of Concord held by a stockholder. On that date, when the market price of Ivanhoe was $29 per share, there were 130000 shares of Concord outstanding. What gain and net reduction in retained earnings would result from this property dividend

Asmall town wants to build some new recreational facilities. the proposed facilities include a swimming pool, recreation center, basketball court and baseball field. the town council wants to provide the facilities which will be used by the most people, but they face budget and land limitations. the town has $400,000 and 14 acres of land. the pool requires locker facilities which would be in the recreation center, so if the swimming pool is built the recreation center must also be built. also, the council has only enough flat land to build the basketball court or the baseball field. the daily usage and cost of the facilities (in $1,000) are shown below. which facilities should they build? facilityusagecost ($1,000)landswimming pool4001002recreation center5002003basketball court3001504baseball field2001005