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These financial statement items are for Crane Corporation at year end, July 31, 2018: Operating expenses $32,500 Interest payable $ 1,900 Salaries expense 47,700 Supplies
These financial statement items are for Crane Corporation at year end, July 31, 2018:
| Operating expenses | $32,500 | Interest payable | $ 1,900 | |||
|---|---|---|---|---|---|---|
| Salaries expense | 47,700 | Supplies expense | 1,200 | |||
| Unearned revenue | 12,000 | Dividends declared | 15,500 | |||
| Utilities expense | 2,500 | Depreciation expense | 4,000 | |||
| Equipment | 61,400 | Retained earnings, Aug. 1, 2017 | 20,940 | |||
| Accounts payable | 4,020 | Rent expense | 13,500 | |||
| Service revenue | 113,600 | Income tax expense | 5,200 | |||
| Rent revenue | 19,500 | Supplies | 1,200 | |||
| Common shares | 26,000 | Held for trading investments | 23,500 | |||
| Cash | 5,260 | Bank loan payable (due Dec. 31, 2018) | 26,800 | |||
| Accounts receivable | 16,100 | Interest expense | 1,900 | |||
| Accumulated depreciationequipment | 6,700 |
Additional information: Crane started the year with $19,000 of common shares and issued additional shares for $7,000 during the year.
(a1)
Prepare an income statement for the year.
| CRANE CORPORATION Income Statement choose the accounting period Year Ended July 31, 2018Month Ended July 31, 2018July 31, 2018 | |||
|---|---|---|---|
| select an opening name for section one RevenuesExpensesTotal ExpensesIncome Before Income TaxNet Income/(Loss)Balance, August 1, 2017Total RevenuesBalance, July 31, 2018Issued Common SharesDividends Declared | |||
| enter an income statement item | $enter a dollar amount | ||
| enter an income statement item | enter a dollar amount | ||
| select a closing name for section one RevenuesExpensesTotal ExpensesIncome Before Income TaxNet Income/(Loss)Balance, August 1, 2017Total RevenuesBalance, July 31, 2018Issued Common SharesDividends Declared | enter a total amount for section one | ||
| select an opening name for section two RevenuesExpensesTotal ExpensesIncome Before Income TaxNet Income/(Loss)Balance, August 1, 2017Total RevenuesBalance, July 31, 2018Issued Common SharesDividends Declared | |||
| enter an income statement item | $enter a dollar amount | ||
| enter an income statement item | enter a dollar amount | ||
| enter an income statement item | enter a dollar amount | ||
| enter an income statement item | enter a dollar amount | ||
| enter an income statement item | enter a dollar amount | ||
| enter an income statement item | enter a dollar amount | ||
| enter an income statement item | enter a dollar amount | ||
| select a closing name for section two RevenuesExpensesTotal ExpensesIncome Before Income TaxNet Income/(Loss)Balance, August 1, 2017Total RevenuesBalance, July 31, 2018Issued Common SharesDividends Declared | enter a total amount for section two | ||
| select a summarizing line for two parts RevenuesExpensesTotal ExpensesIncome Before Income TaxNet Income/(Loss)Balance, August 1, 2017Total RevenuesBalance, July 31, 2018Issued Common SharesDividends Declared | enter a total amount for two parts | ||
| enter an income statement item | enter a dollar amount | ||
| select a closing name for this statement RevenuesExpensesTotal ExpensesIncome Before Income TaxNet Income/(Loss)Balance, August 1, 2017Total RevenuesBalance, July 31, 2018Issued Common SharesDividends Declared | $enter a total net income or loss amount | ||
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