Homework Answers
| Blossom Ltd. | |
| Statement of Comprehensive Income | |
| For the year ended December 31, 2020 | |
| Sales | 7,338,000 |
| Cost of goods sold | -5,743,000 |
| Gross Profit | 1,595,000 |
| Selling and administrative expenses | -440,000 |
| Operating Income | 1,155,000 |
| Gain on sale of equipment | 24,200 |
| Profit Before Tax | 1,179,200 |
| Other comprehensive income | 4,900 |
| Comprehensive Income | $1,184,100 |
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