The following balances were taken from the books of Crane ASA on December 31, 2022. Interest revenue 68,800 Accumulated depreciation-equipment 32,000 Cash 40,800 Accumulated depreciation-buildings 22,400 Sales revenue 1,024,000 Notes receivable. 124,000 Accounts receivable. 120,000 Selling expenses 155,200 Prepaid insurance 16,000 Accounts payable 136,000 Sales returns and allowances 120,000 Bonds payable 80,000 Allowance for doubtful accounts 5,600 Administrative and general expenses 77,600 Sales discounts 36,000 Accrued liabilities: 25.600 Land 80,000 Interest expense 48,000 Equipment 160,000 Notes payable 80,000 Buildings 112,000 Loss from impairment of plant assets 96,000 Cost of goods sold 496,800 Share capital-ordinary 400,000 Retained earnings 16,800 Assume the total effective tax rate on all items is 34%. Prepare an income statement; 100,000 ordinary shares were outstanding during the year. (Round answers to O decimal places, eg. 1,251 and round earnings per share to 2 decimal places, e.g. 1.48.) Revenue Sales Revenue Less Sales Discounts Sales Returns and Allowances Net Sales Cost of Goods Sold Gross Profit/(Loss) CRANE ASA Income Statement For the Year Ended December 31, 2022 36,000 i 120,000 Operating Expenses Selling Expenses 155,200 Administrative Expenses 77,600 i 1024000 156,000 i 868000 496,800 i 371,200 Total Expenses operation income- 120,000 Interest Revenue Revenue Interest Expense Income Before Income Tax Income Tax Net Income/(Loss) Earnings Per Share 68,800 232,800 i 51200 136.000 48,000 184,000 62,560 246560 2.46