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please help me verify what goes in this one box ?! Blossom Corporation's capital structure consists of 50,000 shares of common stock. At December 31,
please help me verify what goes in this one box ?!
Blossom Corporation's capital structure consists of 50,000 shares of common stock. At December 31, 2020 an analysis of accounts and discussions with company officials revealed the following information: $1,219,000 Sales revenue Discontinued operations loss (net of tax) Selling expenses 56.700 127.200 Cash 60,100 Accounts receivable 89,700 200,000 696,800 183,600 Common stock Cost of goods sold Accumulated depreciation-machinery Dividend revenue Unearned service revenue Interest payable Land 7,800 4.800 1.200 374,000 Patents 105,000 Retained earnings, January 1, 2020 288,210 288.210 17300 171,200 27.400 Retained earnings, January 1, 2020 Interest expense Administrative expenses Dividends declared Allowance for doubtful accounts Notes payable (maturity 7/1/23) Machinery Materials Accounts payable 5.500 186,000 459.000 40.600 64.600 The amount of income taxes was $64,290, excluding the tax effect of the discontinued operations loss which amounted to $24.300 Prepare a multiple step income statement Blossom Corporation INCOME STATEMENT For the Year Ended December 31, 2020 Sales Revenue 1219000 Cost of Goods Sold (696800) Gross Profit/(Loss) 522200 > Operating Expenses $ 127200 Selling Expenses 171200 Administrative Expenses (298400) Total Operating Expenses 223800 Income from Operations Other Revenue and Expense 17300 Interest Expense Step by Step Solution
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