Ch. 13 Assignment Question 4 of 4

Ch. 13 Question 4 of 4 View Policies Cuent Attmpt in Progrs The statement ot and unclassified statement of Crane, CRANE, INC. Statement of Position December 31 Bank 'mome operations Cash Tradin8 Estimated inventorv returns Prepaid expenses Actumulated detyeciation Total assets Liabilities and Shareholders' Equity pi"ablc Refund liability Bank loan portion Common shares Total liabilities and shareholders' equity 2021 $99,600 127.0DD 77,000 119,900 2.SDD lg.500 289,500 $688,000 $99,000 9,400 1,400 40.000 82.200 210,000 %88.0DD CRANE, INC. Of Income Year Ended 31.2021 Cost of goods sold Gross profit OthF2r unrealized gain on tradng investments Interest expense Iruome bet we tax expCnSC Additional information regarding 2021: $15.ocn 112.110 90750 254X0 $527,850 $7 g.gco $566,250 185350 116410 263990 10.230 274,220 $22u_220 8, Pregid property tax gyahle relate to New equipment costing purchased for rash and a $69,600 long-term bank payable. Old having an original sold for $1,200. relate to imentory nf the bank loan was repaid during the year, A dividend Was during the and a t Common shares were issued for cash during the year some common were bought hack and retired at the cost were orgimally Issued at.