Crane Company reported the following amounts in the stockholders' equity section of its December 31, 2024, balance sheet.
Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000
Common stock, $5 par (107,000 shares authorized, 21,400 shares issued) 107,000
Additional paid-in capital 127,000
Retained earnings 491,000
Total $925,000
During 2025, Crane took part in the following transactions concerning stockholders' equity.
1. Paid the annual 2024 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2024.
2. Purchased 1,800 shares of its own outstanding common stock for $41 per share. Crane uses the cost method.
3. Reissued 800 treasury shares for land valued at $33,700.
4. Issued 520 shares of preferred stock at $105 per share.
5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $44 per share.
6. Issued the stock dividend.
7. Declared the annual 2025 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2026.
(a)
(b)
Your answer is partially correct.
Prepare the December 31, 2025, stockholders' equity section. Assume 2025 net income was $354,000. (Enter account name only .Do not provide any descriptive information.)
