Avondale Inc. reported the following information from its income statement for the current year: Profit from continuing

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Avondale Inc. reported the following information from its income statement for the current year:
Profit from continuing operations before income tax................... $1,040,000
Interest expense ..................................................................125,000
Income tax expense .............................................................260,000
Loss on operations of discontinued chemical division,.................... 140,000
net of $60,000 income tax savings
Loss on disposal of chemical division, net of $30,000......................70,000
income tax savings
Based on the above information, what is Avondale's sustainable income?
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Related Book For  answer-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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