Exercise 13-8 a The comparative statement of financial position for Crane Retailers Ltd. follows: CRANE RETAILERS LTD. Assets 2018 2017 s 25,000 10,000 50,000 42,000 167,000 138,000 169,000 85,000 (46,000) (23,000) $365,000 $252,000 Accumulated depreciation Total assets Liabilities and Shareholders Equity Accounts payable Bank loan payable (noncurrent) Common shares Retained earnings s 49,000 37,000 100,000 71,000 63,000 58,000 153,000 86,000 Total liabilities and shareholders' equity $365,000 $252,000 Additional information 1. Net income was $67,000 in 2018 2. Depreciation expense was $23,000 in 2018. 3. Payments made to the bank pertaining to the bank loan were $10,000 in 2018. Some new loans wereobtained that year 4. Common shares were issued in 2018 and no shares have been bought back by the company S. In 2018, no furniture was sold