The financial statements of Crane Ltd., private company reporting under ASPE, follow CRANE LTD Balance Sheet December 31 2017 $6,956 10,900 12,300 21,600 28,400 14,400 31,900 25,400 71,200 77,400 2016 Short-term notes receivable Accounts receivable Inventory Property, plant, and equipment depreciation (30,400) (24,900) Total assets Liabilities and Shareholders' Equity Accounts payable Income tax payable Notes payable Common shares Retained earnings 3,20019,200 9,700 23,70023,700 29,500 12,700 55,356 Total liabilities and shareholders' equity $120,356 $124,800 NE LTD. Income Statement Year December 31, 2017 Cost of goods sold Gross profit 192,200