The following is a partial year-end adjusted trial balance.

Income tax expense has not yet been recorded. The income tax rate is 25%. Determine the following:?

(a) Operating income (loss),

(b) Income (loss) before income taxes,

(c) Net income (loss).

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Account Title Debits Credits $300,000 Sales revenue Loss on sale of investments $ 22,000 Interest revenue 4,000 Cost of goods sold 160,000 General and administrative expense 40,000 Restructuring costs 50,000 Selling expense Income tax expense 25,000