The stockholder's equity section of crane corporation's balance sheet at December 31,2022,appears below: Stockholders equity paid in capital Common stock,$5 par value,500,000 shares authorized 250,000 issued and outstanding $1250,000 paid-in capital in excess of par 1200,000 Total paid-in capital 2450,000 Retained earnings 600,000 Total stockholders equity $3050,000 On January 5,2023, crane's board of Directors declared a $1 cash dividend on its common stock to stockholders of record on January 19,2023,to be distributed on January 31,2023. 1. Calculate the cash dividend value 2.prepare the journal entries to account for this cash dividend