1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
8_murik_8 [283]
3 years ago
12

Howard Co.'s 2018 income from continuing operations before income taxes was $294,000. Howard Co. reported before-tax income on d

iscontinued 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
Business
1 answer:
schepotkina [342]3 years ago
7 0

Answer: c. $117,600 and $213,600 respectively

Explanation:

Income tax expense = Income before tax * tax rate

= 294,000 * 40%

= $117,600

Net Income = Income before tax - tax expense + ( Tax adjusted discontinued operations income)

= 294,000 - 117,600 + ( 62,000 * (1 - 40%))

= $213,600

You might be interested in
Critical reading is a
EastWind [94]

Answer:C

Explanation:

5 0
3 years ago
Read 2 more answers
A good or service intended primarily for use in producing other goods or services is a ____ product.
Yuliya22 [10]
The answer is: BUSINESS.
7 0
3 years ago
In order for the United States to have a treaty with a foreign country the
iren2701 [21]
The people of the united states had to travel to them and sign the treaty<span />
4 0
3 years ago
Read 2 more answers
You purchased 100 shares of stock value at $55 per share. The stock value increases to $85 per share what was the rate of increa
Andrews [41]

Answer:

54.55%

Explanation:

The purchasing price is $55

Price has increased to $85.

The monetary increase = $85 - $55 = $30

As a percentage , the increase will be

=$30/$55 x 100

=0.545454 x 100

=54.5454%

=54.55%

3 0
3 years ago
Help!!!!!
uysha [10]
1. revenue 2. income 3. graph 4. equity 5. balance sheet 6. income taxes
5 0
3 years ago
Other questions:
  • Select the examples that best demonstrate likely employers for Design/Pre-Construction workers. Check all that
    5·2 answers
  • The iPod is a very popular item among people of all ages. The demand is continuing to grow. The iPod's introductory price was ar
    6·1 answer
  • Gladstone Co. has expected sales of $360,000 for the upcoming month and its monthly break even sales are $342,500. What is the m
    6·1 answer
  • Types of current assets
    13·1 answer
  • Arnold gave land to his son, Bruce. Arnold's basis in the land was $100,000, and its fair market value at the date of the gift w
    8·1 answer
  • For the years 1995 to 2007, if output per person in the private sector grew 2.7 percent, capital intensity grew 1.1 percent, and
    13·1 answer
  • Harvey is planning to file a case against a petrochemical giant that has a plant in his town. The petrochemical plant is dumping
    13·1 answer
  • 1. The level of prices and the value of money
    14·1 answer
  • Which are ways that the economy is affected when the unemployment rate goes up? Select all that apply.
    5·2 answers
  • Which statement best describes the current price for the good shown in this graph of supply and demand schedules.
    12·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!