The following is a partial year-end adjusted trial balance. Account Title Debits Credits Sales revenue...
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Accounting
The following is a partial year-end adjusted trial balance. Account Title Debits Credits Sales revenue 480,000 Loss on sale of investments 58,000 Interest revenue 7,500 Cost of goods sold 250,000 General and administrative expenses 58,000 Restructuring costs 68,000 Selling expenses 34,000 Income tax expense 0 Income tax expense has not yet been recorded. The income tax rate is 40%. a. Determine the operating income (loss). b. Determine the income (loss) before income taxes. c. Determine the net income (loss).
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