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Cendant Corporation's results for the year ended December 31, 2011, include the following material items: Sales revenue - $6,200,000 Cost of good sold - 3,800,000
Cendant Corporation's results for the year ended December 31, 2011, include the following material items: Sales revenue - $6,200,000 Cost of good sold - 3,800,000 Selling and Admin. expenses - 1,300,000 Loss on sales of investments - 200,000 Loss on discontinued operations - 500,000 Loss from expropriation (unusual and infrequent event) - 800,000 Restructuring costs - 80,000 Overstatement of amortization expense in 2010 caused by mathematical error - 60,000 Cendent Corporation's income from continuing operations before income taxes for 2011 is: a. 900,000 b. 880,000 c. 820,000 d. 320,000
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