Homework Answers
Solution a:
Other Income = Income From Operation = 211,200
Other expense = Selling and administrative expenses = 480,000
Solution b:
Financing Costs = (Revenue - Selling and administrative expense) - Income before income tax
= (768,000- 480,000) - 192,000= 96,000
Solution c:
Income Tax = Income before income tax -Net income = 192,000-86,400= 105,600
Solution d:
Dircontinued operations = Income From operations - Income from Continuing operations
= 211,200-96,000= 115,200
Solution e:
Other comprehensive income = Comprehensive income - Net income
= 115,200- 86,400= 28,800
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