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Crane Corporation has $7,200$ shares of common stock outstanding. It declares a $$5$ per share cash dividend on November $1$ to stockholders of record on December $1.$ The dividend is paid on December $31.$

Prepare a tabular summary to record the declaration and payment of the cash dividend. Include margin explanations for changes in revenues and expenses.

Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses.

Increases in expenses require a negative sign or parentheses.

Increases in Discount on Bonds Payable require a negative sign or parentheses.

Increases in Treasury Stock require a negative sign or parentheses.