Presented below are selected ledger accounts of Crane Corporation as of December 31, 2025 Cash $40,000 Administrative expenses 80,000 Selling expenses 64,000 Net sales 432,000 Cost of goods sold 168,000 Cash dividends declared (2025) 16,000 Cash dividends paid (2025) 12,000 Discontinued operations (loss before income taxes) 32,000 Depreciation expense, not recorded in 2024 24,000 Retained earnings, December 31, 2024 72,000 Effective tax rate 20%