Multiple Choice Question 98 The stockholders' equity of Crane Company at July 31, 2018 is presented below: Common stock, par value $20, authorized 400,000 shares; issued and outstanding 150000 shares $3000000 Paid-in capital in excess of par 159000 Retained earnings 658000 $3817000 On August 1, 2018, the board of directors of Crane declared a 14% stock dividend on common stock, to be distributed on September 15th. The market price of Crane's common stock was $70 on August 1, 2018, and $76 on September 15, 2018. What is the amount of the debit to retained earnings as a result of the declaration and distribution of this stock dividend? $ 900000. $ 1050000. $1470000. $1596000