Exercise 23-11 Condensed financial data of Crane Company for 2017 and 2016 are presented below CRANE COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2017 AND 2016 2016 $1,790$1,140 1,290 1,900 1,740 2017 Cash Receivables Inventory Plant assets Accumulated depreciation Long-term investments (held-to-maturity) 1,750 1,590 1,920 (1,170) (1,150) 1,320 1,420 $7,200 $6,340 Accounts payable Accrued liabilities Bonds payable Common stock Retained earnings $1,220 200 1,400 1,940 2,440 $7,200 $880 250 1,530 1,700 1,980 $6,340 CRANE COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2017