Crane Company Worksheet For the Year Ended December 31, 2020 Income Statement Balance Sheet Account No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 112 Accounts Receivable 8,800 10,800 3,000 24,500 130 157 158 201 4,600 9,200 2,600 20,000 212 301 306 Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Owner's Capital Owner's Drawings Service Revenue Maintenance and Repairs Expense Depreciation Expense Insurance Expense Salaries and Wages Expense Utilities Expense Totals 12,100 400 60,500 622 711 722 726 1,600 3,100 1,800 29,800 1,400 37,700 22,800 60,500 732 60,500 59,200 Net Income 36,400 22,800 59,200 60,500 59,200 Post the closing entries and balance the accounts. (Post entries in the order of journal entries prese Owner's Capital No. 301 Owner's Drawings No. 306 Income Summary y No. 350 Service Revenue No. 400 Maintenance and Repairs Expense ament Maintenance and Repairs Expense No. 622 + Depreciation Expense No. 711 Insurance Expense No. 722 Salaries and Wages Expense No. 726 Utilities Expense No. 732