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Assume a 0% tax rate for this problem. Company reports the following items for the current year. Sales revenue $420,000 Cost of goods sold 280,000
Assume a 0% tax rate for this problem. Company reports the following items for the current year.
Sales revenue | $420,000 |
Cost of goods sold | 280,000 |
Operating expenses | 35,000 |
Unrealized holding gain on securities-considered to be other comprehensive income | 13,000 |
What amounts will be reported as the following items in the current year?
- Gross margin
- Net income
- Comprehensive income
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