An annual report of Crawford Industries states: The Company and its subsidiaries have long-term leases expiring on
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An annual report of Crawford Industries states: "The Company and its subsidiaries have long-term leases expiring on various dates after December 31, 2011. Amounts payable under such commitments, without reduction for related rental income are expected to average approximately $5,711,000 annually for the next three years. Related rental income from certain subleases to others is estimated to average $3,094,000 annually for the next three years." What information is provided by this note?
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The reader should recognize that the firm has an obligation for lease pay...View the full answer
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