The following are financial statements of Blossom Company. Blossom Company Income Statement For the Year Ended December 31, 2022 Net sales $2,249,000 Cost of goods sold 1,019,000 Selling and administrative expenses 908,500 Interest expense 78,000 Income tax expense 69,500 Net income $174,000 Blossom Company Balance Sheet December 31, 2022 Assets Current assets Cash Debt investments Accounts receivable (net) Inventory Total current assets Plant assets (net) Total assets Liabilities and Stockholders' Equity Current liabilities Accounts payable Income taxes payable Total current liabilities Bonds payable Total liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 59,700 81,000 169,900 207,800 518,400 573,000 $ 1,091,400 $ 151,000 41,000 192,000 217,275 409,275 347,000 335,125 682,125 $1,091,400