On October $31,$ the stockholders$$ equity section of Crane

Company$$s balance sheet consists of common stock $$736,000$and

retained earnings $$402,000.$ Crane is considering the following two

courses of action: $(1)$ declaring a$5\%$ stock dividend on

the$92,000,$ $$8$par value shares outstanding or $(2)$

effecting a $2-$for$-1$ stock split that will reduce par value to

$$4$per share. The current market price is $$18$per

share.

Prepare a tabular summary of the effects of the alternative actions

on the company$$s stockholders$$ equity and outstanding shares.