The following information is for Crane Inc. for the year ended December 31, 2021:

Common shares, Jan. 1		$20,800
Common shares issued during year		10,400
Retained earnings, Jan. 1		60,320
Office expense		1,664
Dividends declared		5,200
Rent expense		12,896
Service revenue		63,440
Utilities expense		2,496
Salaries expense		31,200
Income tax expense		3,120