Based on the data above, gross profit was: *

$200,000

$295,000

$330,000

None of the above

Based on the data above, income from continuing activities after taxes was: *

$120,000

$35,000

$200,000

None of the above

Based on the data above, discontinued operations will have the following effect in the income statement: *

A decrease by $42,400

A decrease by $44,000

A decrease by $26,400

Cannot be determined

Based on the data above, the net extraordinary loss was: *

$6,000

$10,000

$4,000

None of the above

Based on the data above, net income was: *

$151,600

$152,000

$71,600

None of the above

The following accounts are extracted from the worksheet of X Company on December 31, 2020: Income from operations $165,000 Dividends Revenue 45,000 Operating expenses 165,000 Loss from sale of land 10,000 During the year, the company suffered from abnormal and infrequent hurricane damages that had resulted in a $10,000 pretax tax loss During the year also, the company stopped the activities of its DD segment which had resulted in a net of tax operating loss of $40,000 and a pretax loss on disposal $4.000 Tax Rate was 40%