Joffery Corporation has the following account balances for 20x1 (all amounts are pre-tax). Sales $...
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Accounting
Joffery Corporation has the following account balances for 20x1 (all amounts are pre-tax). Sales $ 130,000 Dividend revenue $ 11,700 Cost of goods sold $ 78,000 Sales expense $ 10,400 Shipping expense $ 14,300 Office utilities expense $ 1,300 Interest expense $ 2,600 Loss from discontinued operations $ 13,000 The company has a 40 percent effective tax rate. How much should Joffery Corporation report for the income before income tax line item on its 20x1 multiple- step income statement
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