Please do not give solution in image format thanku Other financial data for the year ended December 31, 2025:Included in accounts receivable is $1180000 due from a customer and payable in quarterly installments of $147500. The lastpayment is due December 29, 2026.During the year, estimated tax payments of $519000 were charged to income tax expense. The current and future tax rate onall types of income is 30%.In Blossom's December 31, 2025 balance sheet, the current assets total is$6161000.O $5052000.O $5642000.O $5494500. The following trial balance of Blossom Corp. at December 31, 2025 has been properly adjusted.CashBlossom Corp.Trial BalanceDecember 31, 2025Accounts receivable (net)InventoryProperty, plant, and equipment (net)Accounts payable and accrued liabilitiesIncome taxes payableDeferred income tax liabilityCommon stockAdditional paid-in capitalRetained earnings, 1/1/25Net sales and other revenuesCosts and expensesIncome tax expense$Dr.87200026900002080000756000011150000519000$24871000Cr.$ 17580006500008300023400003675000348000012885000$24871000

The balance sheet represents the financial position of the business with assets and liabilities on a…

Other financial data for the year ended December 31, 2025: Included in accounts receivable is $1180000 due from a customer and payable in quarterly installments of $147500. The last payment is due December 29, 2026. . During the year, estimated tax payments of $519000 were charged to income tax expense. The current and future tax rate on all types of income is 30%. In Blossom's December 31, 2025 balance sheet, the current assets total is O $6161000. O $5052000 O $5642000.

Other financial data for the year ended December 31, 2025: Included in accounts receivable is $1180000 due from a customer and payable in quarterly installments of $147500. The last payment is due December 29, 2026. . During the year, estimated tax payments of $519000 were charged to income tax expense. The current and future tax rate on all types of income is 30%. In Blossom's December 31, 2025 balance sheet, the current assets total is O $6161000. O $5052000 O $5642000.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 7P: Complex Income Statement The following items were derived from Woodbine Circle Corporations adjusted...

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Question

Please do not give solution in image format thanku

Other financial data for the year ended December 31, 2025:
Included in accounts receivable is $1180000 due from a customer and payable in quarterly installments of $147500. The last
payment is due December 29, 2026.
During the year, estimated tax payments of $519000 were charged to income tax expense. The current and future tax rate on
all types of income is 30%.
In Blossom's December 31, 2025 balance sheet, the current assets total is
$6161000.
O $5052000.
O $5642000.
O $5494500.

The following trial balance of Blossom Corp. at December 31, 2025 has been properly adjusted.
Cash
Blossom Corp.
Trial Balance
December 31, 2025
Accounts receivable (net)
Inventory
Property, plant, and equipment (net)
Accounts payable and accrued liabilities
Income taxes payable
Deferred income tax liability
Common stock
Additional paid-in capital
Retained earnings, 1/1/25
Net sales and other revenues
Costs and expenses
Income tax expense
$
Dr.
872000
2690000
2080000
7560000
11150000
519000
$24871000
Cr.
$ 1758000
650000
83000
2340000
3675000
3480000
12885000
$24871000

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