The following are selected ledger accounts of Crane Corporation at December 31,2020. Crane's effective tax rate on all items is 20%. A physical inventory indicates that the ending inventory is $686,000. Prepare a condensed 2020 income statement for Crane Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48. ) CRANE CORPORATION Income Statement For the Year Ended December 31, 2020 Net Sales $3745800 Cost of Goods Sold Gross Profit/ (Loss) Selling Expenses $\begin{tabular}{r||} \hline \hline 17.700 \\ \hline \hline \end{tabular} Administrative Expenses Income From Operations Rent Revenue Interest Expense Interest Revenue Income Before Income Tax Income Tax Expense Net Income/ (Loss) Eamings Per Share