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In 2 0 2 2 , Crane Corporation had net sales of $ 6 0 9 , 0 0 0 and cost of goods sold

In 2022, Crane Corporation had net sales of $609,000 and cost of goods sold of $359,000. Operating expenses were $152,000, and interest expense was $8,000. The corporation's tax rate is 20%. The corporation declared preferred dividends of $12,500 in 2022, and its average common stockholders' equity during the year was $182,000.
(a)
Prepare an income statement for Crane Corporation.
CRANE CORPORATION Income Statement
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