CALCULATOR PRINTER VERSION BACK NES Question 10 The following information was taken from the records of Blossom Inc. for the year 2020 Income tax applicable to income from continuing operatione $231,680; income tax applicatie to loss on discontinued operations $31,620, and unrealed holding gains available for sale securities (net of tax) 18,600 Gain on sale of equipment 5117,800 Cash dividends declared 5186,000 Loss on discontinued operations 93,000 Retained earnings January 1, 2020 3,120,000 Administrative expenses 207,600 Cost of goods sold 1,054,000 Rent revenue 49.600 Selling expenses 372,000 Loss on write down of inventory 74,400 Sales Revenue 2,356,000 Shares outstanding during 2020 were 100,000 (a) Prepare a single site income statement (with respect to me in Income from operations). (Round earnings per share to 2 decimal places... 1.48.) BLOSSOM INC Income Statement For the Year Ended December 31, 2020 Revenues Sales Revenue 350000 Rent Revenue 49600 Total Revenues 2405600 Expenses RCES Total Revenues CALCULATOR FULL SCREEN PRINTER VERSION 2405600 Expenses Cost of Goods Sold 1054000 Selling Expenses Administrative Expenses 372000 297600 Total Expenses 1723600 Income From Continuing Operations 682000 dy Income Tax Income From Continuing Operations 231880 Income Tax Inventory Loss Inventory Loss Less Applicable Income Tax Reduction Per Share of Common Stock Net Income /(Loss)