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Rouge Companys $269,000 net income for the quarter ended September 30 included the following after-tax items: A $25,500 cumulative effect loss resulting from a change
Rouge Companys $269,000 net income for the quarter ended September 30 included the following after-tax items:
- A $25,500 cumulative effect loss resulting from a change in inventory valuation method made on September 1.
- $0 of the $79,000 annual property taxes paid on February 1.
For the quarter ended September 30, the amount of net income that Rouge should report is
Multiple Choice
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$249,250.
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$274,750.
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$294,500.
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$269,000.
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