In 2022, Blossom Corporation had net sales of $603,000 and cost of goods sold of $360,000. Operating expenses were $150,000, and interest expense was $7,000. The corporation's tax rate is 20%. The corporation declared preferred dividends of $11,000 in 2022, and its average common stockholders' equity during the year was $156,000. (a) Prepare an income statement for Blossom Corporation. BLOSSOM CORPORATION Income Statement

In 2022, Blossom Corporation had net sales of $603,000 and cost of goods sold of $360,000. Operating expenses were $150,000, and interest expense was $7,000. The corporation's tax rate is 20%. The corporation dedared preferred dividends of $11,000 in 2022 , and its average common stockholders' equity during the year was $156,000. (a) Prepare an income statement for Blossom Corporation