Reference no: EM132621907

Question - On January 1, 2020, Crane Corporation had the following stockholders' equity accounts.

Common Stock (no par value, 87,000 shares issued and outstanding) $1,385,000

Retained Earnings 544,000

During the year, the following transactions occurred.

Feb. 1 Declared a $1 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 3-for-1 stock split. Prior to the split, the market price per share was $40.

July 1 Declared a 5% stock dividend to stockholders of record on July 15, distributed July 31. On July 1, the market price of the stock was $10 per share.

July 31 Issued the shares for the stock dividend.

Dec. 1 Declared a $0.90 per share dividend to stockholders of record on December 15, payable January 5, 2021.

Dec. 31 Determined that net income for the year was $393,000.

Required -

Part A: What is the stockholders' equity section of the balance sheet on March 31?

Part B: What is the stockholders' equity section of the balance sheet on June 30?

Part C: What is the stockholders' equity section of the balance sheet on September 30?

Part D: What is the stockholders' equity section of the balance sheet on December 31, 2020?