Calculate the following adjusted balances.

Cash		$enter a dollar amount
Accounts Receivable		$enter a dollar amount
Inventory		$enter a dollar amount
Accounts Payable		$enter a dollar amount
Notes Payable		$enter a dollar amount
Unearned Revenue

Restate the current assets and current liabilities sections of the balance sheet in accordance with good accounting practice. (Assume that both accounts receivable and accounts payable are recorded gross.

State the net effect of your adjustments on Cranes retained earnings balance.

CRANE COMPANY Balance Sheet (Partial) December 31, 2017 Asset Liabilities and Stockholders' Equity CRANE COMPANY Balance Sheet (Partial) December 31, 2017 Asset Liabilities and Stockholders' Equity