The following information was taken from Crane Ltd's adjusted trial balance as at July 31, 2024: Sales revenue Interest expense Cost of goods sold Utilities expense Depreciation expense Distribution expenses Administration expenses Advertising expense Interest revenue Income tax expense Dividends declared-Common shares Dividends declared-Preferred shares (b) $2,809,000 40,000 1,564,613 14,000 218,000 418,000 278,000 60,000 17,000 69,000 29,000 14,387 Prepare a multi-step statement of income for the year ended July 31, 2024.

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