Freda's Florist reported the following before-tax income statement items for the year ended December 31,...
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Freda's Florist reported the following before-tax income statement items for the year ended December 31, 2024: Operating income $ 265,000 Income on discontinued operations 53,000 All income statement items are subject to a 25% income tax rate. In its 2024 income statement, Freda's income tax expense from continuing operations and total income tax expense would be: Multiple Choice $79,500 and $79,500, respectively. $79,500 and $129,500, respectively. $66,250 and $79,500, respectively. $79,500 and $66,250, respectively
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