For the year ended December 31, 2022, the job cost sheets of Blossom Company contained the following data: Explanation Direct Materials Job Number Direct Labour Manufacturing Overhead Total Costs 7640 Balance 1/1 $ 25,000 $ 24,000 $ 28,800 $ 77.800 30,000 35,000 43,200 108,200 Current year's costs Balance 1/1 7641 11.000 18,000 21,600 50,600 Current years costs 43,000 48,000 57,600 148,600 7642 Current year's costs 48,000 55,000 66,000 169,000 ser data 1. Raw materials inventory totalled $ 15,000 on January 1. During the year. $ 140,000 of raw materials were purchased on account 2. Finished goods on January 1 consisted of Job No. 7638 for $87.000 and Job No. 7639 for $ 92,000 3. Job No. 7640 and Job No.7641 were completed during the year. 4. Jobs 7638.7639, and 7641 were sold on account for $530,000 in total Si Manufacturing overhead incurred on account totalled $ 110,000 6: Incurred depreciation on factory machinery $ 7,500 7. Assigned indirect materials of $ 13,000 and indirect labour of $ 19,500 1. Beginning balance $ 128400 2. Direct materials $ 121000 Direct labour $ 138000 Manufacturing overhead $ 166800 5. Completed jobs $ 385200 closing balance $ 169000 Prepare a partial income statement through gross profit for 2022. BLOSSOMCOMPANY Income Statement 4 + Net income / (25ss) Beginning balance, January 1 Ending balance, December 31 Sales Operating expenses Adjusted cost of goods sold Net income before taxes Gross profit / (Loss) Taxes