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Shown below are the comparative statements of fancial position and statement of income for Crane Corporation 2021 Crane Corporation Statement of Financial Position As at May 31 2022 Current assets Cash 44.300 Accounts receivable 94.340 riventory 237 670 Prepaid rent 11.180 Total current assets 387 490 Property, plant, and equipment 815,650 Less: Accumulated depreciation 189.000 Net PPE 626-850 Total assets 1,014 340 Current liabilities Accounts payable 154.980 Salaries and was payable 76.860 Interest payable 31030 Total current libris 262.520 40,320 70,010 250749 8,820 369,890 631890 153720 478.270 848060 144.900 90.720 28.430 28-1050 28.430 31.030 262870 94,500 357 370 264.050 126.000 390,050 Interest payable Total current liabilities Mortgage payable Total liabilities Shareholders' equity Common shares Retained earnings Total shareholders equity Total liabilities and shareholders' equity 487 420 100.550 656.970 1014340 352.800 105 210 458010 848,060 Crane Corporation Statement of Income For the Year Ended May 31, 2022 Sales 1890.000 Cost of goods sold 1033.200 Grossman 356.000 Expenses Salaries and we De 259560 Salaries and wages expense Interest expense Other operating expenses Depreciation expense Total operating expenses Income from Operations Income tax expense Net Income 259,560 56,700 40,320 35,280 391.860 464.940 78,120 386,820 The following is additional information about transactions during the year ended May 31, 2022. for Crane Corporation 1 2 Equipment costing $183,960 was purchased by paying cast The other operating expenses relate to prepaid rent in order to supplement its cash Crane issued 31 500 additional common shares Cash dividends of 5322.480 were declared and paid at the end of the scal year 3 4 Prepare a statement of cash flows for 2022 using the Indirect method. (Show amounts that decrease cash flow with ether asianes. -15,000 or in parentheses (15,000) CRANE CORPORATION Statement of Cash Flows For the Year Ended May 31, 2022 Cashflows from corating activities Not income Adjustments to reconcile net income to Cashflows from operating activities Deredationem $ Sale Moon Docesory Increinordret Inces Inc Incendwo Increase in salaries and was payable Net cash provided by operating activities Cath flows from investing activities $ Net cash provided by investing activities Cashflows from runcing activities $ Nutched in this Cash flows from financing activities Nutcash provided by Mancing activities Nechtyoperativa dy vites Now twintivities