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To prepare the statement of cash flows for Crane Corporation for the year 2020, we need to organize the data using the indirect method. This method starts with net income and adjusts for changes in working capital, non-cash expenses, and other cash inflows or outflows from operating, investing, and financing activities.

### Key Data Extracted:
- **Net income**: $232,000
- **Cash dividends paid**: $43,500
- **Loss on sale of investments**: $14,500
- **No equipment was sold**
- **Changes in balance sheet items** from 2019 to 2020:

### Step-by-Step Calculation:
#### 1. **Cash Flows from Operating Activities**
   - **Net income**: $232,000
   - Adjustments for non-cash and working capital items:
     - **Depreciation expense**: Increase in accumulated depreciation = $153,700 - $129,050 = $24,650 (added back)
     - **Accounts receivable**: Decrease in accounts receivable = $268,250 - $261,000 = $7,250 (added)
     - **Current liabilities**: Decrease in current liabilities = $218,950 - $194,300 = $(24,650) (subtracted)

   **Net cash provided by operating activities**:
   \[
   232,000 + 24,650 + 7,250 - 24,650 = 239,250
   \]

#### 2. **Cash Flows from Investing Activities**
   - **Investments**: Sale of investments = Decrease in investments = $107,300 - $75,400 = $31,900
   - **Loss on sale of investments**: Loss of $14,500 (added back since it's a non-cash expense)
   - **No equipment was sold**.

   **Net cash used by investing activities**:
   \[
   31,900 - 14,500 = 17,

Prepare a statement of cash flows for 2020 for Crane Corporation using the indirect method based on comparative balance sheets for 2019 and 2020. Consider investments sold at a loss, no equipment sold, cash dividends paid, and net income provided.

Prepare a statement of cash flows for Crane Corporation for 2020 using the indirect method. Adjust net income for depreciation, changes in working capital, and other investing and financing activities. Learn key cash flow concepts including operating, investing, and financing cash flows.

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