These financial statement items are for Blossom Company at year-end, July 31, 2022.

These financial statement items are for Blossom Company at year-end, July 31, 2022. Salaries and wages payable $1,500 Notes payable (due after 2023) $1,600 Salaries and wages expense 51,000 Cash 13,000 Utilities expense 22,000 Accounts receivable 9,000 Equipment 29,000 Accumulated depreciation-equipment 5,500 Accounts payable 4,500 2,500 Owner's drawings Depreciation expense Service revenue 60,500 3,500 Rent revenue 8,000 Owner's capital (beginning of the year) 48,400 Prepare an income statement for the year. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) BLOSSOM COMPANY Income Statement $ $ $