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Crane Corporation reported the following for 2020: net sales $1,227,100, cost of goods sold $725,600, selling and administrative expenses $330,700, and an unrealized holding gain

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Crane Corporation reported the following for 2020: net sales $1,227,100, cost of goods sold $725,600, selling and administrative expenses $330,700, and an unrealized holding gain on available-for-sale debt securities $22,000. (a) Your answer is correct. Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) CRANE CORPORATION Statement of Comprehensive Income For the Year Ended December 31, 2020 Net Sales $ 1,227,100 Cost of Goods Sold 725,600 i Gross Profit/(Loss) 501,500 Selling and Administrative Expenses 330,700 i Net Income /(Loss) 170,800 Other Comprehensive Income Unrealized Holding Gain 22,000 Comprehensive Income 192,800 $ (b) Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes and earnings per share.) CRANE CORPORATION Income Statement $ CRANE CORPORATION Comprehensive Income Statement V $

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