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Crane, Inc. has 9000 shares of 6%, $100 par value. cumulative preferred stock and 90000 shares of $1 par value common stock outstanding at December

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Crane, Inc. has 9000 shares of 6%, $100 par value. cumulative preferred stock and 90000 shares of $1 par value common stock outstanding at December 31, 2021. If the board of directors declares a $54000 dividend, the preferred shareholders will receive 1/10th of what the common shareholders will receive. O $54000 will be held as restricted retained earnings and paid out at some future date O preferred shareholders will receive the entire 554000 preferred shareholders will receive 527000 and the common shareholders will receive $27000

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