1. Crane Company began the year with owners equity of $301000. During the year, the company recorded revenues of $387000, expenses of $297000, and had owner drawings of $30000. What was Crane owners equity at the end of the year?

2. Crane Service Shop started the year with total assets of $324000 and total liabilities of $232000. During the year, the business recorded $639000 in revenues, $431000 in expenses, and owner drawings of $60400.

The net income reported by Crane Service Shop for the year was?