Crane Co. had sales revenue of $549,202 in 2025. Other items recorded during the year were as follows. Cost of goods sold Salaries and wages expense Income tax expense Increase in value of company reputation Other operating expenses Unrealized gain on value of patents $325,600 120,500 29,130 17,330 11,970 23,730 Prepare a single-step income statement for Crane for 2025. Crane has 106,900 shares of stock outstanding (Round earnings per share to 2 decimal places, e.g. 1.48.) CRANE CO. Income Statement
Crane Co. had sales revenue of $549,202 in 2025. Other items recorded during the year were as follows. Cost of goods sold Salaries and wages expense Income tax expense Increase in value of company reputation Other operating expenses Unrealized gain on value of patents $325,600 120,500 29,130 17,330 11,970 23,730 Prepare a single-step income statement for Crane for 2025. Crane has 106,900 shares of stock outstanding (Round earnings per share to 2 decimal places, e.g. 1.48.) CRANE CO. Income Statement
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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