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These financial statement items are for Crane Company at year end, July 31, 2021. Salaries payable $2,080 Notes payable (long-term) $1,920 Salaries expense 48,600

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These financial statement items are for Crane Company at year end, July 31, 2021. Salaries payable $2,080 Notes payable (long-term) $1,920 Salaries expense 48,600 Cash 14,600 Utilities expense 23,800 Accounts receivable 9,760 Equipment 34,380 Accumulated depreciation-equipment 5,870 Accounts payable 3,980 D. Crane, drawings 3,030 Service revenue 63,000 Depreciation expense 3,950 Rent revenue 9,600 D. Crane, capital (beginning of the year) 51,670 Prepare an income statement for the year. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) eTextbook and Media CRANE COMPANY Income Statement $ $ $ $

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