statement of shareholders equity , please explain the steps. I need help with the third box

V Your answer is correct. Prepare an income statement for the year. CRANE CORPORATION Income Statement Year Ended July 31, 2018 Revenues 115,100 Service revenue Rent Revenue 19,500 Total Revenues 134,600 Expenses $32,500 Operating Expense Salaries expense 46,200 Utilities expense 2,400 Ddidiies expense 40,2001 2,400 Utilities expense Supplies expense 1,700 Depreciation expense 2,800 Rent expense 11,000 Interest expense 2,400 Total Expenses 99,000 Income Before Income Tax 35600 Income Tax Expense 5,800 29800 Net Income/(Loss) (a2) Prepare statement of changes in equity for the year. (Enter negative amounts using either a negative sign precedin CRANE CORPORATION Statement of Changes in Equity Retained Common Total Equity Shares Earnings 24 V Your answer is correct. Prepare an income statement for the year. CRANE CORPORATION Income Statement Year Ended July 31, 2018 Revenues 115,100 Service revenue Rent Revenue 19,500 Total Revenues 134,600 Expenses $32,500 Operating Expense Salaries expense 46,200 Utilities expense 2,400 Ddidiies expense 40,2001 2,400 Utilities expense Supplies expense 1,700 Depreciation expense 2,800 Rent expense 11,000 Interest expense 2,400 Total Expenses 99,000 Income Before Income Tax 35600 Income Tax Expense 5,800 29800 Net Income/(Loss) (a2) Prepare statement of changes in equity for the year. (Enter negative amounts using either a negative sign precedin CRANE CORPORATION Statement of Changes in Equity Retained Common Total Equity Shares Earnings 24