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