The following balances were taken from the books of Crane Corp on December 31, 2017 Interest revenue $87,000 Accumulated depreciationequipment $41,000 Cash 52,000 Accumulated depreciationbuildings 29,000 Sales revenue 1,381,000 Notes receivable 156,000 Accounts receivable 151,000 Selling expenses 195,000 Prepaid insurance 21,000 Accounts payable 171,000 Sales returns and allowances 151,000 Bonds payable 101,000 Allowance for doubtful accounts 8,000 Administrative and general expenses 98,000 Sales discounts 46,000 Accrued liabilities 33,000 Land 101,000 Interest expense 61,000 Equipment 201,000 Notes payable 101,000 Buildings 141,000 Loss from earthquake damage 151,000 Cost of goods sold 622,000 Common stock 501,000 Retained earnings 22,000 Assume the total effective tax rate on all items is 34 Prepare a multiple step income statement 100,000 shares of common stock were outstanding during the year (Round earnings per share to 2 decimal places, e g 1 48 )

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The following balances were taken from the books of Crane Corp. on December 31, 2017. Interest revenue $87,000 Accumulated depreciationequipment $41,000 Cash 52,000 Accumulated depreciationbuildings

The following balances were taken from the books of Crane Corp. on December 31, 2017.

Interest revenue	$87,000	Accumulated depreciationequipment	$41,000
Cash	52,000	Accumulated depreciationbuildings	29,000
Sales revenue	1,381,000	Notes receivable	156,000
Accounts receivable	151,000	Selling expenses	195,000
Prepaid insurance	21,000	Accounts payable	171,000
Sales returns and allowances	151,000	Bonds payable	101,000
Allowance for doubtful accounts	8,000	Administrative and general expenses	98,000
Sales discounts	46,000	Accrued liabilities	33,000
Land	101,000	Interest expense	61,000
Equipment	201,000	Notes payable	101,000
Buildings	141,000	Loss from earthquake damage	151,000
Cost of goods sold	622,000	Common stock	501,000
		Retained earnings	22,000

Assume the total effective tax rate on all items is 34%. Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.)