Current Attempt in Progress

Bramble Inc. reported Income from Continuing Operations before taxes during $2025$ of $$802,600.$ Additional transactions occurring ir

$2025$ but not considered in the $$802,600$ are as follows.

The corporation experienced an uninsured flood loss in the amount of $$92,900$ during the year.

At the beginning of $2023,$ the corporation purchased a machine for $$72,000($salvage value of $$12,000)$ that had a useful life

of $6$ years. The bookkeeper used straight$-$line depreciation for $2023,2024,$ and $2025,$ but failed to deduct the salvage value in

computing the depreciation base.

Sale of securities held as a part of its portfolio resulted in a loss of $$64,900($pretax$).$

When its president died, the corporation realized $$145,400$ from an insurance policy. The cash surrender value of this policy

had been carried on the books as an investment in the amount of $$45,700($the gain is nontaxable$).$

The corporation disposed of its recreational division at a loss of $$122,760$ before taxes. Assume that this transaction meets

the criteria for discontinued operations.

The corporation decided to change its method of inventory pricing from average$-$cost to the FIFO method. The effect of this