Question: Financial Resources, Inc., reported the following items, listed in no particular order at December 31, 20X7 (in thousands): Income tax of 40% applies to all

Financial Resources, Inc., reported the following items, listed in no particular order at December 31, 20X7 (in thousands):

Income tax of 40% applies to all items.
Prepare Financial Resources' income statement for the year ended December 31, 20X7. Omit earnings per share.

Other gains (losses) S (2,000) rvenu2.000 15,000 Extraordinary gain Cost of goods sold. S 5,000 71,000 Operating expenses.64,000 ...19,000 esas) Loss on discontinued Accounts receiab operations

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