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Current Attempt in Progress - 71 Two accountants for the form of Elwes and Wright...

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Accounting

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Current Attempt in Progress - 71 Two accountants for the form of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-st versus a single-step format. The discussion involves the following 2020 information related to Blossom Company ($000 omitted). $5,488 4,548 61,158 17,818 Administrative expense Officers' salaries Depreciation of office furniture and equipment Cost of goods sold Rent revenue Selling expense Delivery expense Sales commissions Depreciation of sales equipment Sales revenue Income tax Interest expense 3,278 8,568 7,068 97,088 9,658 2,448 Common shares outstanding for 2020 total 25,384 (000 omitted). Prepare an income statement for the year 2020 using the multiple-step form. (Round earnings per share to 2 decimal places, es. 148) BLOSSOM COMPANY Income Statement (In thousands, except earnings per share) TO 5 Prepare an income statement for the yew 2000 using the single step form. Round share to 2 decimal BLOSSOM COMPANY Income Statement ctn thousands Encegamishare > > > > Amesed

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