The following Information is taken from the accounting records of Blossom Corporation, a Canadian public company for the year ended December 31, 2020 Accounts receivable Retained earnings, January 1, 2020 Loss an operation of discontinued operations (before taxi Sales revenue Cost of goods sold Selling expenses Cash Common shares (19.000 common shares outstanding) end revenue nventory Unearned revenue Land Interest expense Administrative expenses Notes payable (maturity 2026) Accounts payable Gain on disposal of discontinued operations (before tax) Depreciation expense Loss on disposal of equipment (before tax) $87,500 263.000 102.000 1.130,500 730.500 129,500 60.500 190,000 17.700 125.000 4,200 390.000 20.000 159,000 190,000 57.000 162.000 147.000, 13,000 Blossom Corporation is subject to a 25% income tax rate. Prepare a multiple step income statement in good form for Blossom Corporation learnings per share information is not required Blossom Corporation Income Statement For the year ended December 31, 2020 Sales Revenue 1130500 Cost of Goods Sold 730500 Gross Profit/(Loss) On Sales 400000 Operating Expenses Administrative Expenses 159000 Selling Expenses 129500 Depreciation Expense 47000 Total Operating Expenses 335500 Income from Continuing Operations before Income Tax 64500 Other Revenue and Gains Income from Continuing Operations before Income Tax 64500 Other Revenue and Gains $