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The following is a partial year-end adjusted trial balance.


Account TitleDebits CreditsSales

revenue    $310,000 Loss on sale of investments$24,000     Interest revenue     4,500 Cost of goods sold 165,000     General and administrative expense 41,000     Restructuring costs 50,500     Selling expense 25,500     Income tax expense ?     

Income tax expense has not yet been recorded. The income tax rate is 25%.

a. Determine the operating income (loss).

b. Determine the income (loss) before income taxes.

c. Determine the net income (loss).

Top Answer

Sales revenue$310,000Loss on sale of investments$24,000Interest revenue4,500Cost of goods... View the full answer

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