Tropical Vacations suffered a $ 1,070,000 loss due to a tsunami, which qualifies as an extraordinary item
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Tropical Vacations suffered a $ 1,070,000 loss due to a tsunami, which qualifies as an extraordinary item for financial statement purposes. The tax benefit of the loss amounts to $ 155,000. If income from continuing operations (net of tax) amounted to $ 1,861,250, what is net income?
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Related Book For
Financial Accounting: A Business Process Approach
ISBN: 978-0136115274
3rd edition
Authors: Jane L. Reimers
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