Business
Business, 15.04.2020 22:04, FlowerChild5037

Howard Co.'s 2013 income from continuing operations before income taxes was $300,000. Howard Co. reported a before-tax extraordinary gain of $55,000. All tax items are subject to a 40% tax rate. In its income statement for 2013, Howard Co. would show the following line-item amounts for net income and income tax expense:

$245,000 and $278,000.
$355,000 and $322,000.
$213,000 and $120,000.
$120,000 and $213,000.

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Howard Co.'s 2013 income from continuing operations before income taxes was $300,000. Howard Co. rep...

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