Blossom Corporation has outstanding at December 31,2022,46,000 shares of $21 par value, cumulative, 7% preferred stock and 204,000 shares of $5 par value common stock. All shares were outstanding the entire year. During 2022, Blossom earned total revenues of $2,020,000 and incurred total expenses (except income taxes) of $1,170,000. Blossom's income tax rate is 20%. (a1) Calculate Blossom's 2022 net income