Howard Co.'s 2018 income from continuing operations before income taxes was $294,000. Howard Co. reported before-tax income on discontinued operations of $62,000. All tax items are subject to a 40% tax rate. In its income statement for 2018. Howard Co. would show the following line-item amounts for income tax expense and net income:
a. $213600 and $117600 respectively
b. $356000 and $318800 respectively
c. $117600 and $213600 respectively
d. $ 232000 and $ 269200 respectively
Answers: 2
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Howard Co.'s 2018 income from continuing operations before income taxes was $294,000. Howard Co. rep...
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