Question: Use the following information to compute income from continuing operations Assume

Use the following information to compute income from continuing operations. Assume that the income tax rate on all items is 40%.
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,000
Interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,100
Income (loss) from discontinued operations . . . . . . . . . (1,000)
Selling and administrative expense . . . . . . . . . . . . . . . . 1,750
Extraordinary loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (400)
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000
Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 700
Loss on sale of discontinued operations . . . . . . . . . . . . (200)


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  • CreatedApril 07, 2012
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