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Compute the net income for the year

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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.

Reference no: EM132638582

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