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Crane Corporation had net sales of $2,406,100 and interest revenue of $33,400 during 2020. Expenses for 2020 were cost of goods sold $1,450,300, administrative expenses
Crane Corporation had net sales of $2,406,100 and interest revenue of $33,400 during 2020. Expenses for 2020 were cost of goods sold $1,450,300, administrative expenses $214,900, selling expenses $290,300, and interest expense $46,200. Crane's tax rate is 30%. The corporation had 102,100 shares of common stock authorized and 70,750 shares issued and outstanding during 2020. Prepare a condensed multiple-step income statement for Crane Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.)
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