Question

ID List Home - Apps Serv. w Weather History &. Certificate Number... Florida Dept. of Rev.. Pilot Portal - Home Adjur Chapter 4 GRADED HOMEWORK ASSIGNMENT A Saved The following is a partial year-end adjusted trial balance Debits 1.42 points Credits $410,000 $ 44,000 Account Title Sales revenue Loss on sale of investments Interest revenue Cost of goods sold General and administrative expense Restructuring costs Selling expense Income tax expense 4,000 (8 043245 215,000 51,000 55,500 30,500 Income tax expense has not yet been recorded. The income tax rate is 25%. a. Determine the operating income (loss). b. Determine the income loss) before income taxes c. Determine the net income (loss). Derences Operating income (los) Income foss) before income taxes Net Income (los) 0 c 269,000

Answer 1

Since, multiple questions have been posted, I have answered the first one.

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The value of operating income (loss), income (loss) before income taxes and net income (loss) is arrived as below:

Sales Revenue	410,000
Less Cost of Goods Sold	215,000
Gross Profit	195,000
Less Operating Expenses
General and Administrative Expense	51,000
Selling Expense	30,500
Restructuring Costs	55,500
Total Operating Expenses	137,000
Operating Income (Loss)	$58,000
Add Non-Operating Income/Gain
Interest Revenue	4,000
Less Non-Operating Expense/Loss
Loss on Sale of Investments	44,000
Income (loss) before Income Taxes	$18,000
Less Taxes (18,000*25%)	4,500
Net Income (Loss)	$13,500

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Tabular Representation as Required in Question:

a.	Operating Income (Loss)	$58,000
b.	Income (loss) before Income Taxes	$18,000
c.	Net Income (Loss)	$13,500