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At Pharoah Company, events and transactions during 2020 included the following. The tax rate for all items is 30%. (1) Depreciation for 2018 was found
At Pharoah Company, events and transactions during 2020 included the following. The tax rate for all items is 30%. (1) Depreciation for 2018 was found to be understated by $152000. (2) A strike by the employees of a supplier resulted in a loss of $126000. (3) The inventory at December 31, 2018 was overstated by $199100. The effect of these events and transactions on 2020 income from continuing operations net of tax would be
($245770).
($194600).
($88200).
($333970).
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