Crane Inc. reported income from continuing operations before taxes during 2023 of $929,760. Additional transactions occurring in 2023 but not considered in the $929,760 are as follows.

1. The corporation experienced an uninsured flood loss in the amount of $93,600 during the year.

2. At the beginning of 2021, the corporation purchased a machine for $56,160 (salvage value of $9,360) that had a useful life of 6 years. The bookkeeper used straight-line depreciation for 2021, 2022, and 2023, but failed to deduct the salvage value in computing the depreciation base.

3. Sale of securities held as a part of its FV-NI portfolio resulted in a loss of $59,280.

4. The corporation disposed of its recreational division at a loss of $119,600 before taxes. Assume that this transaction meets the criteria for discontinued operations.

5. The corporation decided to change its method of inventory pricing from average-cost to the FIFO method. The effect of this change on prior years is to increase 2021 income by $62,400 and decrease 2022 income by $20,800 before taxes. The FIFO method has been used for 2023.

Crane follows IFRS and has a December year end. Common shares outstanding for the year are 120,000 shares. Assume a tax rate of 30% on all items, unless indicated otherwise.

Calculate the revised income from continuing operations