MAN The stockholders' equity section of Crane Corporation's balance sheet at December 31, 2022, appears below: Stockholders' equity Paid-in capital Common stock, $5 par value, 500,000 shares authorized; 250,000 issued and outstanding 000 Paid-in capital in excess of par 000.00 Total paid-in capital- 000. Retained earnings 000.000 Total stockholders' equity $1,250,000 1,200,000 2,450,000 600,000 $3.050.000 000.030.2 dlope On January 5, 2023, Crane's Board of Directors declared a $1 cash dividend on its common stock to stockholders of record on January 19, 2023, to be distributed on January 31, 2023. 1. Calculate the cash dividend value 2. Prepare the journal entries to account for this cash dividend.