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These financial statement items are for Crane Company at year-end, July 31, 2020.
| Salaries and wages payable | | $3,764 | | Notes payable (long-term) | | $3,780 |
| Salaries and wages expense | | 57,582 | | Cash | | 6,552 |
| Utilities expense | | 26,586 | | Accounts receivable | | 12,332 |
| Equipment | | 47,880 | | Accumulated depreciation | | 7,560 |
| Accounts payable | | 5,166 | | Owners Drawings | | 5,040 |
| Service revenue | | 72,072 | | Depreciation expense | | 5,040 |
| Rent revenue | | 8,190 | | Owners capital (beginning of the year) | | 60,480 |
The owner did not make any new investments during the year.
- Prepare an income statement for the year.
- Retained earnings statement
- balance sheet
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