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1.The amount of operating income (loss) is__________? 2.The amount of net income (loss) is_____________? 3.The amount of other comprehensive income (loss) is___________? The trial balance
1.The amount of operating income (loss) is__________?
2.The amount of net income (loss) is_____________?
3.The amount of other comprehensive income (loss) is___________?
The trial balance of Flex Inc. included the accounts below as of March 31, 2020. The loss on debt investments represents a decrease in the fair value of debt securities and is classified as part of other comprehensive income. Flex had 100,000 shares of stock outstanding throughout the year. Income tax expense has not yet been accrued. The effective tax rate is 25%. Debits Credits 6,700,000 44,000 20,000 190,000 Sales revenue Interest revenue Loss on sale of investments Loss on debt investments Gain on projected benefit obligation Cost of goods sold Selling expense Restructuring costs Interest expense General and administrative expense 300,000 5,120,000 480,000 220,000 10,000 380,000Step by Step Solution
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