Trying to solve for (b1) using the given information.

Exercise 1-10 (Part Level Submission) Blossom Company is a private camping ground near the Mount Miguel Recreation Area. It has compiled the following financial information as of December 31, 2017 Service revenue (from camping $190,080 Dividends fees) Sales revenue (from general store) Accounts payable Cash Equipment $12,960 72,000 181,440 7,920 57,600 7,200 Notes payable 36,000 15,840 Expenses during 2017 12,240 Supplies 164,160 Common stock Retained earnings (1/1/2017) Your answer is correct. Determine Blossom Company's net income for 2017 Blossom Company's net income for 2017 44,640 (b1) Your answer is partially correct. Try again. Blossom Company Retained Earnings Statement For the Year Ended December 31, 2017 Retained Earnings, January 1 v 72,000 Add Net Income/(Loss) 44,640 116,640 Less LI Dividends 12,960 Retained Earnings, December 31 103,680