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

Income from operations or operating income or earnings before income and taxes refers to the total…

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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 11P: Net Income and Comprehensive Income At the beginning of 2019, JR Companys shareholders equity was as...

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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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