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Blossom Corporation had net sales of $2,414,200 and interest revenue of $35,800 during 2017. Expenses for 2017 were cost of goods sold $1,459,300, administrative expenses $221,600, selling expenses $284,400, and interest expense $54,200. BlossomÃ¢â‚¬â„¢s tax rate is 30%. The corporation had 103,500 shares of common stock authorized and 74,490 shares issued and outstanding during 2017. Prepare a condensed multiple-step income statement for Blossom Corporation.(Round earnings per share to 2 decimal places, e.g. 1.48.)
Blossom CorporationIncome StatementFor the Year Ended December 31, 2017Net SalesCost of Goods SoldGross ProfitOperating ExpenseAdministrative ExpenseSelling ExpenseTotal Operating Expense…
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