Exercise 1-12 al-a2 (Video) The following information relates to Crane Co. for the year 2020. Owner's capital, January 1, 2020 $70,574 Advertising expense $ 2,647 Owner's drawings during 2020 8,822 Rent expense 15,291 Service revenue 93,511 Utilities expense 4,558 Salaries and wages expense 43,374 After analyzing the data, prepare an income statement for the year ending December 31, 2020. CRANE CO. Income Statement LINK TO TEXT VIDEO: SIMILAR EXERCISE After analyzing the data, prepare an owner's equity statement for the year ending December 31, 2020. (List items that increase owner's equity first.) CRANE CO. Owner's Equity Statement Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: SIMILAR EXERCISE