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The following selected accounts from the Blossom Companys general ledger are presented below for the year ended December 31, 2022: Advertising expense $ 64,000 Interest
The following selected accounts from the Blossom Companys general ledger are presented below for the year ended December 31, 2022:
Advertising expense | $ 64,000 | Interest revenue | $ 41,000 | |||
---|---|---|---|---|---|---|
Common stock | 259,000 | Inventory | 76,000 | |||
Cost of goods sold | 1,094,000 | Rent revenue | 24,000 | |||
Depreciation expense | 134,000 | Retained earnings | 544,000 | |||
Dividends | 159,000 | Salaries and wages expense | 683,000 | |||
Freight-out | 34,000 | Sales discounts | 9,300 | |||
Income tax expense | 79,000 | Sales returns and allowances | 52,000 | |||
Insurance expense | 15,000 | Sales revenue | 2,408,000 | |||
Interest expense | 78,000 |
Prepare a multiple-step income statement.
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