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Question 24 10 Points Logan Corp.s trial balance of income statement accounts for the year ended December 31, 2025 included the following: DebitCredit Sales revenue$280,000

Question 24

10 Points

Logan Corp.s trial balance of income statement accounts for the year ended December 31, 2025 included the following:

DebitCredit

Sales revenue$280,000

Cost of goods sold$170,000

Administrative expenses40,000

Loss on disposal of equipment18,000

Sales commission expense16,000

Interest revenue10,000

Freight-out6,000

Loss from discontinued operations24,000

Bad debt expense6,000

Totals$280,000$290,000

Logans income tax rate is 20%.

Finished goods inventories are as follows:

January 1, 2025$160,000

December 31, 2025140,000

On Logan's multiple-step income statement for 2025, cost of goods manufactured is reported at

$196,000.

$190,000.

$156,000.

$150,000.

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