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Question - This information relates to Crane Company for the year 2022.
Retained earnings, January 1, 2022 $84,400
Advertising expense 2,270
Dividends 7,560
Rent expense 13,000
Service revenue 73,080
Utilities expense 3,020
Salaries and wages expense 37,800
Required - Make an income statement for the company.
Took advantage of discounts from the vendor of $270. At the end of the quarter the balance in inventory is $30,000. What is the cost of goods sold?
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