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The ledger of Blossom Limited at October 31, 2021, contains the following summary data: Cash dividends-common $105,000 Common shares 630.000 Depreciation expense 77,000 Service revenue 1.451.000 Operating expenses 911,000 Interest expense 40.000 Retained earnings, November 1, 2020 555,000 Your analysis reveals the following additional information: 1. 2. The company has a 25% income tax rate. On March 19, 2021, Blossom discovered an error made in the previous fiscal year. A $41,000 payment of a note payable had been recorded as interest expense. 3. On April 10, 2021, common shares costing $61,000 were reacquired for $85,000. This is the first time the company has reacquired common shares, Prepare a journal entry to correct the prior period error. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 19, 2021 Notes Payable 41000 (To record correction of error.) Prepare the journal entry to record the reacquisition of common shares. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 10 2021 To record reacquisition of common shares. Calculate profit for the year ended October 31, 2021. Profit $ BLOSSOM LIMITED Statement of Retained Earnings $

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