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QUESTION 1 KRJ International just reported earnings before taxes of $10,000 and tax expense of $3,000, leaving net income of $7,000. During the year

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QUESTION 1 KRJ International just reported earnings before taxes of $10,000 and tax expense of $3,000, leaving net income of $7,000. During the year it sold a warehouse with a net book value of $763 for $1298; the resulting gain or loss on the sale was included in the calculation of earnings before taxes. Recalculate the company's net income with the unusual gain or loss removed. QUESTION 2 KRJ International just reported earnings before taxes of $10,000 and tax expense of $2,500, leaving net income of $7,500. During the year it sold a warehouse with a net book value of $1470 for $776; the resulting gain or loss on the sale was included in the calculation of earnings before taxes. Recalculate the company's net income with the unusual gain or loss removed.

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