On January 1, 2022, Crane Corporation had the following stockholders equity accounts.

On January 1, 2022, Crane Corporation had the following stockholders' equity accounts. Common Stock ($20 par value, 66,500 shares issued and outstanding) $1,330,000 Paid-in Capital in Excess of Par-Common Stock 190,000 Retained Earnings 579,000 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 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $35. July 1 Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $390,000. equity accounts as needed.) (Post entries in the order of journal entries presented in the previous part.) Common Stock Date Explanation Ref Debit Credit Jan. 1 Balance July 31 Common Stock Dividends Distributable Date Explanation Ref Debit July 1 July 31 Paid-in Capital in Excess of Par-Common Stock Date Explanation Ref Debit Balance Explanation Ref Debit Jan. 1 July 1 Retained Earnings Date 199500 199500 Credit 199500 Credit Credit 79800 Balance 1330000 1529500 Balance 199500 Balance 190000 269800 Balance Retained Earnings Date Jan. 1 V Dec. 31 Dec. 31 Dec. 31 Cash Dividends Date Stock Dividends Date V V Explanation Ref Balance V Net income Stock dividend Cash dividend Explanation Ref Explanation Ref Debit Debit Debit 279300 178885 Credit 390000 Credit Credit Balance 579000 969000 689700 510815 Balance Balance