Question 3 of 15 View Policies Current Attempt in Progress The ledger of Crane Limited at October 31, 2024, contains the following summary data: Cash dividends-common $117,000 Operating expenses $923,000 4 Common shares 642,000 Interest expense 52,000 Depreciation expense 89,000 Retained earnings, November 1, 2023 567,000 Service revenue 1.463,000 Your analysis reveals the following additional information: 1. The company has a 25% income tax rate. -/16 2. 3. On March 19, 2024, Crane discovered an error made in the previous fiscal year. A $53,000 payment of a note payable had been recorded as interest expense. On April 10, 2024, common shares costing $73,000 were reacquired for $97,000. This is the first time the company has reacquired common shares. Search E Question 3 of 15 -/16 E Ayuk Prepare a journal entry to correct the prior period error. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles Mar. 19. 2024 Question Part Score Debit Credit /4 W Question 3 of 15 < Question Part Score -/16 E Prepare the journal entry to record the reacquisition of common shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries) Date Account Titles Apr. 10, 2024 Question Part Score Q Search ASUS Debit Credit --/4 -/4 Jestion Part Score 4 --/2 Prepare the statement of retained earnings for the company for the year ended October 31, 2024. (List items that increase adjusted retained earnings first.) CRANE LIMITED Statement of Retained Earnings ENG