Question: Presented below is information which relates to Crane Ltd., a Canadian private company. $ 122,000 322.000 Net loss Retained earnings, January 1, 2020 Cash dividends

Presented below is information which relates to Crane Ltd., a Canadian private company. $ 122,000 322.000 Net loss Retained earnings, January 1, 2020 Cash dividends declared on common shares Understatement of net income resulting from 2019 inventory error (pre-tax) 68,000 86,000 Prepare in good form, a statement of retained earnings for the year ended December 31, 2020. The tax rate is 25% (List items that increase retained earnings first.) Crane Ltd. Statement of Retained Earnings

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