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Bramble Corp. owned 898000 shares of Cullumber Company stock. On December 31, 2018, when Bramble's account...

Bramble Corp. owned 898000 shares of Cullumber Company stock. On December 31, 2018, when Bramble's account “Equity Investments (Cullumber Company”) had a carrying value of $5 per share, Bramble distributed these shares to its stockholders as a dividend. Bramble originally paid $7 for each share. Cullumber has 4990000 shares issued and outstanding, which are traded on a national stock exchange. The quoted market price for a Cullumber share was $6 on the declaration date and $8 on the distribution date.

What would be the reduction in Bramble's stockholders' equity as a result of the above transactions?

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