Current Attempt in Progress
The following selected information is for Blossom Company for the year ended January 31, 2024:
Delivery expense
$7,000
Purchase discounts
$12,200
Freight in
6,400
Purchase returns and allowances
16,400
Insurance expense
12,900
Rent expense
20,100
Interest expense
7,300
Salaries expense
60,800
Merchandise inventory, beginning
61,300
Salaries payable
2,500
Merchandise inventory, ending
45,000
Sales
324,000
O. G. Allen, capital
105,000
Sales discounts
15,000
O. G. Allen, drawings
42,400
Sales returns and allowances
20,500
Purchases
215,000
Unearned revenue
4,500
(a)
Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or
parentheses e.g. (45).)
BLOSSOM COMPANY
Income Statement
Year Ended January 31, 2024