On January 1, 2020, Crane Corporation had the following stockholders equity accounts. $1.300,000 Common Stock (5 26 par value, 50.000 shares issued and outstanding) Pald-in Capital in Excess of Par-Common Stock Retained Earnings 194,000 619.000 During the year, the following transactions occurred. Feb 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar 1 Paid the dividend declared in February Apr 1 July 1 Announced a 2-for-1 stock split. Prior to the split the market price per share was $ 36 Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share Issued the shares for the stock dividend. Declared a $0,40 per stare dividend to stockholders of record on December 15, payable January 5, 2021. 31 Dec 1 31 Determined that net income for the year was $393.500, estion 1 of 3 8.09 / 10 Your answer is partially correct. Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note:Open additional stockholders equity accounts as needed.) (Post entries in the order of journal entries presented in the previous part) Common Stock Date Explanation Ref Debit Credit Balance Jan 1 V Balance 1,300,000 July 31 130,000 1,430,000 Common Stock Dividends Distributable Date Explanation Ref Debit Credit Balance July 1 130,000 1,300,000 July 31 v 130,000 Paid-in Capital in Excess of Par-Common Stock Date Explanation Ref Debit Credit Balance Jan 1 Balance 194,000 July 1 20,000 214,000 Retained Earnings Date Explanation Ref Debit Credit Balance Jan. 1 Balance 619.000 July 1 20,000 214.000 Retained Earnings Date Explanation Ref Debit Credit Balance Jan. 1 Balance 619.000 Dec 31 Net Income 393,500 Dec 31 Stock dividend Dec 31 Cash dividend 144,000 718,000 Cash Dividends Date Explanation Ref Debit Credit Balance Feti 100,000 Dec 1 44,000 Dec 31 144,000 Stock Dividends Date Explanation Ref Debit Credit Balance July 31 150.000 List of Accounts