Determine the income before income taxes

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Question - The following is a partial year-end adjusted trial balance.

Account Title Debits Credits

Sales revenue $500,000

Loss on sale of investments $62,000

Interest revenue 8,500

Cost of goods sold 260,000

General and administrative expense 60,000

Restructuring costs 60,000

Selling expense 35,000

Income tax expense ?

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).

Reference no: EM132510862

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