The stockholders equity section of Crane Corporation consists of common stock ($10 par) $1,500,000 and retained earnings $500,000. A 10% stock dividend (15,000 shares) is declared when the market price per share is $14. Show the before-and-after effects of the dividend on the following.

(a)		The components of stockholders equity.
(b)		Shares outstanding.
(c)		Par value per share.

		Before Dividend		After Dividend
Stockholders equity		$		$
Outstanding shares
Par value per share		$		$