Interest Expense Operating Income Gross Profit/ (Loss) Total Operating Expenses Net Income /(Loss) Dividend Revenue Operating Expenses Sales Revenue Discontinued Operations Loss, Net of Tax Selling Expenses Income Taxes Administrative Expenses Cost of Goods Sold Income Before Income Taxes Other Revenue and Expense Income from Continuing Operations Discontinued Operations Loss, Net of Applicable Taxes Crane Corporation's capital structure consists of 50,000 shares of common stock. At December 31, 2020 an analysis of the accounts and discussions with company officials revealed the following information: Sales revenue Discontinued operations loss (net of tax) Selling expenses Cash Accounts receivable Common stock Cost of goods sold Accumulated depreciation-machinery Dividend revenue Unearned service revenue Interest payable Land $1,226,000 52,500 125,500 59,200 91,700 200,000 698,000 180,000 9,000 4,200 2,000 360,000 117,000 270,750 19,000 170,000 25,600 5,000 188,000 450,000 41,200 58,000 Patents Re learnings, January 1, 2020 Interest expense Administrative expenses Dividends declared Allowance for doubtful accounts Notes payable (maturity 7/1/23) Machinery Materials Accounts payable The amount of income taxes was $66,750, excluding the tax effect of the discontinued operations loss which amounted to $22,500. Prepare a multiple-step income statement. Crane Corporation INCOME STATEMENT $ $