Crane Ltd$.$ has a September $30$ fiscal year end and a $15\%$ income tax rate. The following information is available for its $2024$ year end:

Earned $$474,000$ of service revenue and incurred $$396,000$ of operating expenses. Interest expense was $$2,240.$

On October $5,2023,$ paid $$44,800$ of dividends that had been declared on September $25,2023.$

On September $28,2024,$ declared $$35,840$ of dividends payable on October $8,2024.$

Retained earnings on September $30,2023,$ were $$212,800.$

Issued common shares for $$22,400$ cash on July $2,2024.$

$($a$)$

Prepare an income statement.

CRANE LTD$.$

Income Statement