Account Title Debits Credits

Sales revenue $ $330,000$

Loss on sale of investments $ $28,000$

Interest revenue $5,500$

Cost of goods sold $175,000$

General and administrative expense $43,000$

Restructuring costs $51,500$

Selling expense $26,500$

Income tax expense $?$

Income tax expense has not yet been recorded. The income tax rate is $25\%.$

Determine the operating income $($loss$).$

Determine the income $($loss$)$ before income taxes.

Determine the net income $($loss$).$

Answer rating: 100% (QA)

To calculate operating incomeloss incomeloss before income taxes and net incomeloss we need to f... View the full answer