Exercise 14-5 Crane Limited reported the following selected Information for the year ended March 31, 2017: Advertising expense Cash dividends-common Depreciation expense Fees earned Gain on disposal of equipment Income tax payable $5,000 Interest expense $5,800 6,000 Loss on discontinued operations 20,000 4,000 Loss on equity investments 3,000 62,000 Rent revenue 32,000 2,000 Retained earnings, April 1, 2016 21,000 5,300 Telephone expense 8,000 The company's income tax rate is 30%. The company reports gains and losses on its equity investments as other comprehensive in Prepare an income statement and a separate statement of comprehensive income for Crane Limited. CRANE LIMITED Income Statement Year Ended March 31, 2017 Revenues Fees Earned $ Banten v Totalleveres Operating Expenses 28 tv E A CBOOK Pio G Search or type URL 2 3 $ 4 % 5 6 & 7 8 9 0 W E E R T Y U 0