Use the following information (in thousands): Sales revenue 300,000 Gain on sale of equipment 90,000 Cost of goods sold 164,000 Interest expense 16,000 Selling & administrative expenses 30,000 Income tax rate 30% Determine the amount of net income. Select one: a. 63,000 b. 21,000 C. 126,000 d. 42,000 $250,000 Lohmeyer Corporation reports: Cash provided by operating activities Cash used by investing activities Cash provided by financing activities Beginning cash balance What is Lohmeyer's ending cash balance? 110,000 140,000 120,000 a. b. o. d. Select one: a. $620,000. b. $330,000. c. $400,000. ndows but d. $550,000. For Mortenson Company, the following information is available: Cost of goods sold $240,000 Sales discounts 8,000 Income tax expense 24,000 Operating expenses 92,000 Sales revenue 400,000 In Mortenson's income statement, gross profit Select one: a. should be reported at $152,000. b. should be reported at $160,000. c. should not be reported. d. should be reported at $36,000