The following is a partial year-end adjusted trial balance. Account Title Sales revenue Loss on sale...
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The following is a partial year-end adjusted trial balance. Account Title Sales revenue Loss on sale of investments Interest revenue Cost of goods sold General and administrative expense Restructuring costs Selling expense Debits $ 32,000 185,000 45,000 Credits $ 350,000 6,500 52,500 27,500 ? Income tax expense Income tax expense has not yet been recorded. The income tax rate is 25%. a. Determine the operating income (loss). b. Determine the income (loss) before income taxes. c. Determine the net income (loss). a. Operating income (loss) b. Income (loss) before income taxes c. Net income (loss) The following is a partial year-end adjusted trial balance. Account Title Sales revenue Loss on sale of investments Interest revenue Cost of goods sold General and administrative expense Restructuring costs Selling expense Debits $ 32,000 185,000 45,000 Credits $ 350,000 6,500 52,500 27,500 ? Income tax expense Income tax expense has not yet been recorded. The income tax rate is 25%. a. Determine the operating income (loss). b. Determine the income (loss) before income taxes. c. Determine the net income (loss). a. Operating income (loss) b. Income (loss) before income taxes c. Net income (loss)
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