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Incomplete financial statements for Crane, Inc. follow. (a) Calculate the missing amounts for [1] to (13). Crane, INC. Statement of Income Year Ended November 30,
Incomplete financial statements for Crane, Inc. follow. (a) Calculate the missing amounts for [1] to (13). Crane, INC. Statement of Income Year Ended November 30, 2021 Service revenue $180.500 [1] Operating expenses $ Income before income tax 36,900 Income tax expense 7,380 Net income $ [2] Crane, INC. Statement of Changes in Equity Year Ended November 30, 2021 Common Shares Retained Earnings Total Equity Balance, December 1, 2020 $0 $0 $0 205,000 Issued common shares $ [5] Net income $ [3] $ [6] Dividends declared -12,300 -12.300 Balance, November 30, 2021 $205,000 $ [4] $ [7] Question 2 of 4
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