Problem 12-5A Blossom Company's income statement contained the condensed information below. Blossom Company Income Statement For the Year Ended December 31, 2017 Service revenue $2,832,400 Operating expenses, excluding depreciation $1,792,880 Depreciation expense 160,600 Loss on disposal of plant assets 46,720 2,000,200 Income before income taxes 832,200 Income tax expense 163,520 $668,680 Net income Blossom Company's balance sheet contained the comparative data at December 31. 2016 $175,200 $204,400 Accounts receivable 119,720 93,440 Accounts payable Income taxes payable 37,960 20,440 Accounts payable pertain to operating expenses