Crane company has 504000 shares of $10 par value common stock outstanding. during the year crane declared a 16% stock dividend when the market price of the stock was $34 per share. three months later crane declared a $0.60 per share cash dividend. as a result of the dividends declared during the year, retained earnings decreased by

$3,092,544

Explanation:

The computation of the decreased in retained earning is shown below:

= (Number of shares × stock dividend percentage × market price of the stock) + (Number of shares × current year dividend × cash dividend)

=  (504,000 × 0.16 × $34) + (504,000 × 1.16 × $0.60)

= $2,741,760 + 350,784

= $3,092,544

Simply we added the two amount based on before 3 months later and after 3 months later

The 1.16 is computed below:

= 1 + 0.16

= 1.16

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.