In 2022, Blossom Corporation had net sales of $ 590,000 and cost of goods sold of $ 350,000. Operating expenses were $ 148,000, and interest expense was $5,000. The corporation's tax rate is 20%. The corporation declared preferred dividends of $10,000 in 2022, and its average common stockholders' equity during the year was $ 150,000. (a) - Your answer is partially correct. Prepare an income statement for Blossom Corporation. BLOSSOM CORPORATION Income Statement For the Year Ended December 31, 2022 Net Sales 590000 Cost of Goods Sold 350000 i Gross Profit/(Loss) 240000 Operating Expenses 148000 i 100... Interest Expense 4000 Total Expenses V Income before Income Taxes Income Tax Expense V Net Income /(Loss) V e Textbook and Media Save for Later Attempts: 1 of 5 used Submit Answer (b) Compute Blossom Corporation's return on common stockholders' equity for 2022. (Round answer to 1 decimal place, eg. 10.5%.) Return on common stockholders' equity %6 e Textbook and Media Save for Later Attempts: 0 of 5 used Submit