121) During its 2021 fiscal year, Jacobsen Corporation reported before-tax income of $620,000. This amount does not include the following two items, both of which are considered to be material in amount: Unusual gain $ 200,000 Loss on discontinued operations ( 300,000) The company's income tax rate is 25%. Jacobsen Corporation prepares its financial statements applying U.S. GAAP. In its 2021 income statement, Jacobsen would report income from continuing operations of: A) $391,500. B) $465,000. C) $615,000. D) $620,000 122) During its 2021 fiscal year, Jacobsen Corporation reported before-tax income of $620,000. This amount does not include the following two items, both of which are considered to be material in amount: I Unusual gain $ 200,000 Loss on discontinued operations ( 300,000) The company's income tax rate is 25%. Jacobsen Corporation prepares its financial statement applying International Financial Reporting Standards (IFRS). In its 2021 income statement, Jacobsen would report income from continuing operations of: A) $391,500. B) $465,000 C) $615,000. D) $620,000