An inexperienced accountant prepared this condensed income statement for blossom company, a retail firm that has been in business for a number of years. blossom companyincome statementfor the year ended december 31, 2017revenues net sales $1,054,000 other revenues 27,2801,081,280cost of goods sold 688,200gross profit 393,080operating expenses selling expenses 135,160 administrative expenses 127,720262,880net earnings $130,200as an experienced, knowledgeable accountant, you review the statement and determine the following facts.1. net sales consist of sales $1,129,640, less freight-out on merchandise sold $40,920, and sales returns and allowances $34,720.2. other revenues consist of sales discounts $22,320 and rent revenue $4,960.3. selling expenses consist of salespersons’ salaries $99,200; depreciation on equipment $12,400; advertising $16,120; and sales commissions $7,440. the commissions represent commissions paid. at december 31, $3,720 of commissions have been earned by salespersons but have not been paid. all compensation should be recorded as salaries and wages expense.4. administrative expenses consist of office salaries $58,280; dividends $22,320; utilities $14,880; interest expense $2,480; and rent expense $29,760, which includes prepayments totaling $7,440 for the first quarter of 2018.prepare a correct detailed multiple-step income statement. assume a 25% tax rate. (list other revenues before other expenses. round answers to 0 decimal places, e. g. 5,125.)blossom companyincome statement$: $$