Blossom Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the company's fiscal year on November 30, 2022, these accounts appeared in its adjusted trial balance. Accounts Payable Accounts Receivable Accumulated Depreciation-Equipment Cash Common Stock Cost of Goods Sold Freight-Out Equipment Depreciation Expense Dividends Gain on Disposal of Plant Assets Income Tax Expense Insurance Expense Interest Expense Inventory Notes Payable Prepaid Insurance Advertising Expense Rent Expense Retained Earnings Salaries and Wages Expense Sales Revenue Salaries and Wages Payable Sales Returns and Allowances Utilities Expense $ 13,400 8.800 34,000 4,000 17.500 304,980 3,150 79,730 4,700 4,000 1.000 5.000 4,500 2.500 13,100 21,750 3,000 14,750 17,000 7.100 59,440 452.000 3,000 10,000 5,300 Additional data: Notes payable are due in 2026. BLOSSOM DEPARTMENT STORE Income Statement