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What should its adjusted net income for the year be

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Problem 1: Ralston Company reported net income of $300,000 for the year. The reported income included a pretax gain of $100,000 from a peripheral activity. The gain was a one-time event. Ralston's effective tax rate was 21% for the year. If you are assessing Ralston's current profitability and forecast its future earnings, what should its adjusted net income for the year be?

Reference no: EM132930692

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