Income statement for income before irregular items

Reference no: EM13786438

Flite Company reported income before taxes of $900,000 and an extraordinary loss of $250,000. Assume that the company's tax rate is 35%. What amounts will be reported on the income statement for income before irregular items and extraordinary items, respectively?

$650,000 and $162,500
$650,000 and $250,000
$585,000 and $250,000
162,500

Reference no: EM13786438

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