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The following selected items are taken from the adjusted trial balance of Dion Inc. at December 31, 2020. Adjusted Trial Balance Selected Accounts Sales
The following selected items are taken from the adjusted trial balance of Dion Inc. at December 31, 2020. Adjusted Trial Balance Selected Accounts Sales revenue Cost of goods sold Debit Credit $ $9,000,000 4,800,000 Selling and administrative expenses 2,700,000 Loss on sale of investments Interest revenue 150,000 45,000 Assuming an income tax rate of 25%, determine the following amounts. Use a negative sign only to indicate a loss. Item a. Gross profit Amount $ $ b. Operating income (loss) c. Nonoperating income (loss) $ d. Income tax expense $ e. Net income (loss) $
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