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Presented below is information related to Blossom Company at December 31, 2020, the end of its first year of operations. Sales revenue   $322,170   Cost of goods sold   138,320   Selling and administrative expenses   51,700   Gain on sale of plant assets   30,260   Unrealized gain on available-for-sale debt investments   9,200   Interest expense   5,820   Loss on discontinued operations   12,220   Dividends declared and paid   4,580   Compute the following: (a)   Income from operations   $enter a dollar amount    (b)   Net income   $enter a dollar amount    (c)   Comprehensive income   $enter a dollar amount    (d)   Retained earnings balance at December 31, 2020   $enter a dollar amount

Presented below is information related to Blossom Company at December 31, 2020, the end of its first year of operations. Sales revenue   $322,170   Cost of goods sold   138,320   Selling and administrative expenses   51,700   Gain on sale of plant assets   30,260   Unrealized gain on available-for-sale debt investments   9,200   Interest expense   5,820   Loss on discontinued operations   12,220   Dividends declared and paid   4,580   Compute the following: (a)   Income from operations   $enter a dollar amount    (b)   Net income   $enter a dollar amount    (c)   Comprehensive income   $enter a dollar amount    (d)   Retained earnings balance at December 31, 2020   $enter a dollar amount

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Presented below is information related to Blossom Company at December 31, 2020, the end of its first year of operations.

Sales revenue
   $322,170  
Cost of goods sold
   138,320  
Selling and administrative expenses
   51,700  
Gain on sale of plant assets
   30,260  
Unrealized gain on available-for-sale debt investments
   9,200  
Interest expense
   5,820  
Loss on discontinued operations
   12,220  
Dividends declared and paid
   4,580  


Compute the following:

(a)
  
Income from operations
   $enter a dollar amount   
(b)
  
Net income
   $enter a dollar amount   
(c)
  
Comprehensive income
   $enter a dollar amount   
(d)
  
Retained earnings balance at December 31, 2020
   $enter a dollar amount 
 
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