+ . References Page Layout tool Itense View Q Click to find commands A. 215. Anbend AaBb AaBb C AaBb C AaBbce Normal Heading Heading 2 Headings Heading 4 AA New Style Text Tools Question 1: (7.5 marks] Presented below is an income statement for Hussam Company for the year ended December 31, 2020. Hussam Company Income Statement For the Year Ended December 31, 2020 Net sales $950,000 Costs and expenses: Cost of goods sold 540,000 Selling, general, and administrative expenses 80,000 Other Income & Expenses 15,000 Income before income taxes 315,000 Additional information: 1. "Selling, general, and administrative expenses" included a charge of $8,000 for loss on sale of furniture 2. "Other Income & Expenses "consisted of the following items, all before tax: interest expense $6,000, a discontinued operations loss of $18,000, and rent revenues $39.000 3. Tax rate 15% 4. Hussam had 100,000 ordinary shares outstanding during 2020. Instructions Prepare a corrected income statement, including the appropriate per share disclosures. Then answer the following questions. # Question Answer 1 Income from operations for 2020. is 369000 2. Income before income tax for 2020, is: 363000 3 Income tax for 2020. is: 54450 4 Income from continuing operations for 2020.is 308550 5 Net income for 2020, is: 290550 2001 sort Check BE DOLL EEAA habccdd AaBb AaBbc AaBb C AaBbc Normal Heading Heading 2 Heading a Heading Hussam Company Income Statement For the Year Ended December 31, 2020 Question 2: Determine whether each of these statements is true or false. Question alich