Prepare a correct detailed mutiple step income stament. Assume a 25 percent tax rate. Fill out income stament completely.

An inexperienced accountant prepared this condensed income statement for Crane Company, a retail firm that has been in business for a number of years. As an experienced, knowledgeable accountant, you review the statement and determine that the following steps were taken by the accountant to compute the amounts presented in the income statement. As an experienced, knowledgeable accountant, you review the statement and determine that the following steps were taken by the accountant to compute the amounts presented in the income statement. 1. Net sales, as presented, consist of sales $1,147,860, less freight-out on merchandise sold $41,580, and sales returns and allowances $35,280. 2. Other revenues, as presented, consist of sales discounts $22,680 and rent revenue $5,040. 3. Selling expenses, as presented, consist of salespersons' salaries $100,800; depreciation on equipment $12,600; advertising $16,380; and sales commissions $7,560. The commissions represent commissions paid. At December 31,$3,780 of commissions have been earned by salespersons but have not been paid. All compensation should be recorded as Salaries and Wages Expense. 4. Administrative expenses, as presented, consist of office salaries $59,220; dividends $22,680, utilities $15,120, interest expense $2,520, and rent expense $30,240, which includes prepayments totaling $7.560 for the first quarter of 2026 . Prepare a correct detailed multiple-step income statement. Assume a 25% tax rate. (List other revenues before other expenses.) CRANE COMPANY Income Statement Question 8 of 9 115 Question 8 of 9 115 Question 8 of 9