Testbank Multiple Choice Question 72 Crane Company has a tax rate of 30 percent and income before non-operating items of $1391000. It also has the following items (gross amounts). Unusual loss $222000 Discontinued operations loss 605000 Gain on disposal of equipment 48500 Change in accounting principle Increasing prior year's income 318500 What is the amount of income tax expense Crane would report on its income statement? $446250 $365250 w O $279300 $417300 Click if you would like to Show Work for this question: Open Show Work Testbank Multiple Choice Question 97 During the first year of Marigold Corp.'s operations, all purchases were recorded as assets. Supplies in the amount of $27200 were purchased. Actual year-end supplies amounted to $5900. The adjusting entry for store supplies will O decrease supplies by $5900 O debit Accounts Payable for $5900. Increase net income by $21300. increase expenses by $21300. Oo Click if you would like to Show Work for this question: Open Show Work