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The following are partial income statement account balances taken from the December 31, 2013, year-end trial balance of White and Sons, Inc.: restructuring costs, $340,000;
The following are partial income statement account balances taken from the December 31, 2013, year-end trial balance of White and Sons, Inc.: restructuring costs, $340,000; interest revenue, $44,000; loss from earthquake (unusual and infrequent), $440,000; and loss on sale of investments, $54,000. Income tax expense has not yet been accrued. The income tax rate is 40%
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