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Current Attempt in Progress On October 31, the stockholders' equity section of Crane Company consists of common stock $365,000 and retained earnings $903,000. Crane is
Current Attempt in Progress On October 31, the stockholders' equity section of Crane Company consists of common stock $365,000 and retained earnings $903,000. Crane is considering the following two courses of action: (1) declaring a 6% stock dividend on the 36,500,$10 par value shares outstanding, or (2) effecting a 2 -for- 1 stock split that will reduce par value to $5 per share. The current market price is $16 per share. Prepare a tabular summary of the effects of the alternative actions on the components of stockholders' equity, outstanding shares, and par value per share
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