Ten years ago, Crane Ltd. issued 690,000 shares, which are still outstanding, for a total value...

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Ten years ago, Crane Ltd. issued 690,000 shares, which are still outstanding, for a total value of $6.35 million. The board of directors for Crane Ltd. has become concerned with the dramatic drop in the market price of the shares to $0.40 per share. The company is at risk of being delisted if the share price drops below $0.35 per share. (a) Your answer is correct. What would be the required reverse stock split to move the market price to $9.20 per share? Required reverse stock split eTextbook and Media List of Accounts 1 for 23 Attempts: 1 of 2 used x Your answer is incorrect. What is the average issue price per share after your recommendation in part (a)? (Round answers to 2 decimal places, e.g. 15.25.) The average issue price per share $ 72.80 eTextbook and Media List of Accounts Assistance Used Attempts: 2 of 2 used Prepare the journal entry for your recommendation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit Ten years ago, Crane Ltd. issued 690,000 shares, which are still outstanding, for a total value of $6.35 million. The board of directors for Crane Ltd. has become concerned with the dramatic drop in the market price of the shares to $0.40 per share. The company is at risk of being delisted if the share price drops below $0.35 per share. (a) Your answer is correct. What would be the required reverse stock split to move the market price to $9.20 per share? Required reverse stock split eTextbook and Media List of Accounts 1 for 23 Attempts: 1 of 2 used x Your answer is incorrect. What is the average issue price per share after your recommendation in part (a)? (Round answers to 2 decimal places, e.g. 15.25.) The average issue price per share $ 72.80 eTextbook and Media List of Accounts Assistance Used Attempts: 2 of 2 used Prepare the journal entry for your recommendation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List debit entry before credit entry) Account Titles and Explanation eTextbook and Media List of Accounts Debit Credit