Exercise 1-10 The following items and amounts were taken from Blossom Company's 2022 income statement and balance shee Cash $ 86,900 Accounts receivable $ 88,200 Retained earnings 122,000 Sales revenue 586,600 Cost of goods sold 436,500 Notes payable 6,500 Salaries and wages expense 119,400 Accounts payable 8,100 Service revenue 64,100 Interest expense 53,100 Prepaid insurance 5,100 Inventory 1,880

5 In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Cash Cost of goods sold Salaries and wages expense Prepaid insurance Inventory Accounts receivable Sales revenue Notes payable Accounts payable Service revenue Interest expense Prepare an income statement for Blossom Company for the year ended December 31, 2022. BLOSSOM COMPANY Income Statement