0.38 / 1\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ View Policies\ Show Attempt History\ Current Attempt in Progress\ The following information is related to Crane Company for 2025.\ \ Retained earnings balance, January 1, 2025 $882,000\ Sales revenue 22,500,000\ Cost of goods sold 14,400,000\ Interest revenue 63,000\ Selling and administrative expenses 4,230,000\ Write-off of goodwill 738,000\ Income taxes for 2025 1,119,600\ Gain on the sale of investments 99,000\ Loss due to flood damage 351,000\ Loss on the disposition of the wholesale division (net of tax) 396,000\ Loss on operations of the wholesale division (net of tax) 81,000\ Dividends declared on common stock 225,000\ Dividends declared on preferred stock 72,000\ \ Crane Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Crane sold the wholesale operations to Rogers Company. During 2025, there were 500,000 shares of common stock outstanding all year.\ (a1)\ Your Answer\ Correct Answer (Used)\ Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49. List other revenues and gains before other Expenses and losses.)\ \ CRANE COMPANY\ Income Statement\ choose the accounting period\ For the Year Ended December 31, 2025\ select an income statement item\ Sales Revenue\ $enter a dollar amount \ 22,500,000\ select an income statement item\ Cost of Goods Sold\ enter a dollar amount \ 14,400,000\ select a summarizing line for the first part\ Gross Profit / (Loss)\ enter a total amount for the first part \ 8,100,000\ select an income statement item\ Selling and Administrative Expenses\ enter a dollar amount \ 4,230,000\ select a summarizing line for the second part\ Income from Operations\ enter a total amount for the second part \ 3,870,000\ select an opening name for section one\ Other Revenues and Gains\ select an income statement item\ Interest Revenue\ $enter a dollar amount \ 63,000\ select an income statement item\ Gain on the Sale of Investments\ enter a dollar amount \ 99,000\ enter a subtotal of the two previous amounts \ 162,000\ select an opening name for section two\ Other Expenses and Losses\ select an income statement item\ Write-off of Goodwill\ enter a dollar amount \ 738,000\ select an income statement item\ Loss from Flood Damage\ enter a dollar amount \ 351,000\ enter a subtotal of the two previous amounts \ 1,089,000\ select a summarizing line for the third part\ Income before Income Tax\ enter a total amount for the third part \ 2,943,000\ select an income statement item\ Income Tax\ enter a dollar amount \ 1,119,600\ select a summarizing line for the fourth part\ Income from Continuing Operations\ enter a total amount for the fouth part \ 1,823,400\ select an opening name for section three\ Discontinued Operations\ select an income statement item\ Loss on Disposal of Wholesale\ enter a dollar amount \ 396,000\ select an income statement item\ Loss from Operation of Wholesale Division\ enter a dollar amount \ 81,000\ enter a subtotal of the two previous amounts \ 477,000\ select a closing name for this statement\ Net Income / (Loss)\ $enter a total net income or loss amount \ 1,346,400\ \ select an opening name for additional section\ Earnings Per Share\ :\ select an income statement item\ Income from Continuing Operations\ $enter a dollar amount rounded to 2 decimal places \ 3.50\ select an opening subsection name\ Discontinued Operations\ select an income statement item\ Loss from Operations of Discontinued Division\ $enter a dollar amount rounded to 2 decimal places \ (0.16)\ select an income statement item\ Loss on Disposal of Discontinued Division\ enter a dollar amount rounded to 2 decimal places \ (0.79)\ enter a subtotal of the two previous amounts rounded to 2 decimal places \ (0.95)\ select a closing name for additional section\ Net Income / (Loss)\ $enter a total amount for additional section rounded to 2 decimal places \ 2.55\ (a2)\ Prepare a retained earnings statement. (List items that increase retained earnings first.)\ \ CRANE COMPANY\ Retained Earnings Statement