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MC Qu. 36 Freda's Florist reported the following before-tax income statement... Freda's Florist reported the following before-tax income statement items for the year ended December
MC Qu. 36 Freda's Florist reported the following before-tax income statement...
Freda's Florist reported the following before-tax income statement items for the year ended December 31, 2018:
Operating income$250,000Income on discontinued operations70,000
All income statement items are subject to a 34% income tax rate. In its 2018 income statement, Freda's separately stated income tax expense and total income tax expense would be:
Multiple Choice
- $85,000 and $108,800, respectively.
- $108,800 and $108,800, respectively.
- $108,800 and $85,000, respectively.
- $108,800 and $158,800, respectively.
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