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Crane Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting

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Crane Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the company's fiscal year on November 30, 2022, these accounts appeared in its adjusted trial balance. $ 44,600 Accounts Payable Accounts Receivable 29,000 Accumulated Depreciation-Equipment 115,600 Cash 13,600 59,500 1,036,380 10,830 Common Stock Cost of Goods Sold Freight-Out Equipment Depreciation Expense Dividends Gain on Disposal of Plant Assets Income Tax Expense Insurance Expense Interest Expense 270,330 23,500 20,400 3,400 17,000 15,300 8,500 Inventory 44,300 73,950 10,200 56,950 57,800 23,900 Notes Payable Prepaid Insurance Advertising Expense Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Salaries and Wages Payable Sales Returns and Allowances Utilities Expense 201,760 1,536,000 10,200 34,000 17,300 Additional data: Notes payable are due in 2026. CRANE DEPARTMENT STORE Income Statement For the Year Ended November 30, 2022 Sales Sales Revenue Less : Sales Returns and Allowances nunla $ dddddd A A > > |

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