The following selected accounts from Crane Corporation's general ledger are presented below for the year ended December 31, 2021: Accounts payable $82,320 Equipment $1,397,760 Accounts receivable 124,320 Income tax expense 110,880 Accumulated depreciation-equipment 481,320 Insurance expense 107,520 Cash 10,080 Inventory 314,160 Common shares 252,000 Prepaid expenses 37,800 Cost of goods sold 1,617,000 Retained earnings 567,840 Depreciation expense 233,520 Salaries expense 773,640 Sales 3,343,200 Prepare a single-step statement of income. CRANE CORPORATION Statement of Income (Single-step) $ +A A