Question: Need help on this homework. I am not sure what I did wrong here. The following information is available for Blossom Corporation for the year
Need help on this homework. I am not sure what I did wrong here.
The following information is available for Blossom Corporation for the year ended December 31,2022 : sales revenue $835, 000 , other revenues and gains $86,500, operating expenses $102,000, cost of goods sold $470,000, other expenses and losses $31,500, and preferred stock dividends $38,700. The company's tax rate was 20%, and it had 60,000 common shares outstanding during the entire year. (a) Prepare a corporate income statement. (List other revenues before other expenses.)
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