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In its income statement for the year ended December 31, 2025, Blossom Inc. reported the following condensed data. Operating expenses $722,000 Interest revenue $35,000
In its income statement for the year ended December 31, 2025, Blossom Inc. reported the following condensed data. Operating expenses $722,000 Interest revenue $35,000 Cost of goods sold 1,257,000 Loss on disposal of plant assets 18,000 Interest expense 72,000 Sales revenue 2,360,000 Income tax expense 46,000 Sales discounts 155,000 Prepare a multiple-step income statement. (List Other revenue and gains before Other expenses and losses.) Net Sales BLOSSOM INC. Income Statement For the Year Ended December 31, 2025 Less Sales Discounts) Net Sales
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