View Policies Current Attempt in Progress Presented below is information related to Crane Corp.. for the year 2020. Net sales $ 1,755,000 Cost of goods sold 1,080,000 Selling expenses 85.500 Administrative expenses 63.000 Dividend revenue 27,000 Interest revenue 18,000 Interest expense 40,500 Write-off of goodwill due to impairment 67,500 Depreciation expense omitted in 2018 94,500 Dividends declared 108,000 Effect on prior years of change in accounting principle (credit) 198,000 Loss from operations of discontinued component of business 216,000 Gain from disposal of component of business 270,000 Federal tax rate of 30% on all items Prepare a multiple-step income statement for 2020. Assume the 200,000 shares of common stock were outstanding during 2020. (Round earnings per share to 2 decimal places, eg. 5.25.) Crane Corp. INCOME STATEMENT For the Year Ended December 31, 2020 Crane Corp. INCOME STATEMENT For the Year Ended December 31, 2020 Net Sales S Coat of Gooda Sold Cross Pro