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I need help with those empty boxes in the answer section please and thanks. The following balances were taken from the books of Crane Corp.
I need help with those empty boxes in the answer section please and thanks.
The following balances were taken from the books of Crane Corp. on December 31, 2020. Interest revenue Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land $87,000 52,000 1,381,000 151,000 21,000 151,000 8,000 46,000 101,000 201,000 141,000 622,000 Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general expenses Accrued liabilities Interest expense Notes payable Loss from earthquake damage Common stock Retained earnings $41,000 29,000 156,000 195,000 171,000 101,000 98,000 33,000 61,000 101,000 151,000 501,000 22,000 Equipment Buildings Cost of goods sold Assume the total effective tax rate on all items is 20%. Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.) Income From Operations 269000 Other Revenues and Gains Interest Revenue 87000 356000 Other Expenses and Losses Interest Expense 61000 INcome 59000 Income Before Income TaxStep by Step Solution
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