$12$

statement for the year ended December $31,2024,$ Major Company would show the following line$-$item amounts for income tax expense and net income:

Multiple Choice

$$58,250$ and $$375,000$ respectively.

$$76,000$ and $$174,750$ respectively.

$$58,250$ and $$228,000$ respectively.

$$76,000$ and $$233,000$ respectively.

nea

Rrev.

$12$ of $25$

Next

Misty Company reported the following before$-$tax items during the current year:

Sales revenue

Selling and administrative expenses

Restructuring charges

$ $850$

$410$

Loss on discontinued operations

$20$

$70$

Misty's effective tax rate is $25\%.$

What is Misty's income from continuing operations?

Multiple Choice

$$ $$315$

$$395$

$$525$

$$ $$330$

Misty Company reported the following before$-$tax items during the current year:

Sales revenue

Selling and administrative expenses

Restructuring charges

$ $850$

$410$

Loss on discontinued operations

$20$

$70$

Misty's effective tax rate is $25\%.$

What is Misty's income from continuing operations?

Multiple Choice

$$ $$315$

$$395$

$$525$

$$ $$330$