The following information relates to Crane Co. for the year 2022.
Owner's capital, January 1, 2022
$52,608
Advertising expense
$ 1,973
Owner's drawings during 2022
6,576
Rent expense
11,398
Service revenue
69,706
Utilities expense
3,398
Salaries and wages expense
32,332
(a1)
After analyzing the data, prepare an income statement for the year ending December 31, 2022.
CRANE CO.
Income Statement
For the Year Ended December 31, 2022
$
$
$