Question

Accounts Payable $ 70,600 Accounts Receivable 46,000 Accumulated Depreciation—Equipment 183,600 Cash 21,600 Common Stock 94,500 Cost...

Accounts Payable $ 70,600
Accounts Receivable 46,000
Accumulated Depreciation—Equipment 183,600
Cash 21,600
Common Stock 94,500
Cost of Goods Sold 1,646,340
Freight-Out 17,410
Equipment 429,190
Depreciation Expense 37,500
Dividends 32,400
Gain on Disposal of Plant Assets 5,400
Income Tax Expense 27,000
Insurance Expense 24,300
Interest Expense 13,500
Inventory 70,300
Notes Payable 117,450
Prepaid Insurance 16,200
Advertising Expense 90,450
Rent Expense 91,800
Retained Earnings 37,900
Salaries and Wages Expense 320,360
Sales Revenue 2,440,000
Salaries and Wages Payable 16,200
Sales Returns and Allowances 54,000
Utilities Expense 27,300



Additional data: Notes payable are due in 2026.

Prepare a multiple-step income statement. (List other revenues before other expenses.)

BLOSSOM DEPARTMENT STORE
Income Statement
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