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  3. on july 1, 2022, crane corp. leased heavy equipmen

On July 1, 2022, Crane Corp. leased heavy equipment to Larkspur Inc. for one year,...

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Accounting

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On July 1, 2022, Crane Corp. leased heavy equipment to Larkspur Inc. for one year, at $63800 a month. Larkspur returned the equipment on June 30,2023 , and the next day, Crane Corp. leased this equipment to Bramble Ltd. for three years, at $78400 a month. The original cost of the equipment was $3199000. The equipment, which has been continually on lease since July 1,2020 . is being depreciated on a straight-line basis over ten years with no residual value. Assuming that both the lease to Larkspur and the lease to Bramble are appropriately recorded as operating leases for accounting purposes, how much net income (loss) before income taxes that each company would record as a result of the above facts for the year ended December 31,2023 ? Crane Larkspur Bramble $470400$(470400)$(382800) $853200$(382800)$(470400) $533300$(382800)$(470400) $533300$(382800)$(940800)

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