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Presented below is information from Gamma Corporation at December 31, 20X5, the end of its first year of operations. Research and development expenses (30,000)
Presented below is information from Gamma Corporation at December 31, 20X5, the end of its first year of operations. Research and development expenses (30,000) Loss on discontinued operations (12,000) Cost of goods sold (260,000) Gain on sale of PP&E 5,000 Sales revenue 450,000 Unrealized gain on available-for-sale debt investments 3,000 Interest expense (1,200) Selling and administrative expenses (42,000) Dividends declared and paid: (2,000) Unrealized loss on foreign currency translation (1,500) Ignoring income tax, The gross profit for the period is: [Select] Income from operations is: [Select] Income from continuing operations is: [Select] Net Income is: [Select] Other Comprehensive Income is: [Select]
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