Reference no: EM132638582
Problem - Presented below is certain information pertaining to Crane Company.
Assets, January 1 $253,200
Assets, December 31 231,900
Liabilities, January 1 148,200
Common stock, December 31 87,000
Retained earnings, December 31 42,400
Common stock sold during the year 11,400
Dividends declared during the year 13,500
Required - Compute the net income for the year.