Exercise 14-05 a-b (Video)

On October 1, Crane Corporation's stockholders' equity is as follows.

Common stock, $7par value$525,700 Paid-in capital in excess of parcommon stock23,000 Retained earnings 153,000Total stockholders' equity$701,700

On October 1, Crane declares and distributes a10% stock dividend when the market price of the stock is $15per share.

Indicate the balances in the three stockholders' equity accounts after the stock dividend shares have been distributed.

Common stock$

Paid-in capital in excess of par value$

Retained earnings