The following are the financial statements of Crane Company. CRANE COMPANY Balance Sheet December 31 Assets 2021 2020 Cash $28,880 $15,200 Accounts receivable 22,800 10,640 Inventory 20,520 15,200 Equipment 45,600 59,280 Accumulated depreciation-equipment (22,040) (18,240) Total $95.760 $82,080 Liabilities and Shareholders' Equity Accounts payable $ 18,240 $11.400 Income taxes payable 52 The following are the financial statements of Crane Company. CRANE COMPANY Balance Sheet December 31 Assets 2021 2020 Cash $28,880 $15,200 Accounts receivable 22,800 10,640 Inventory 20,520 15,200 Equipment 45,600 59,280 Accumulated depreciation-equipment (22,040) (18,240) Total $95.760 $82,080 Liabilities and Shareholders' Equity Accounts payable $ 18,240 $11.400 Income taxes payable 52