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discontinued operations.
extraordinary items
4Multiple Choice Question 155
ACME Company reports income before income taxes of $2,400,000
and had an extra-ordinary loss of $800,000. If the tax rate is 30%,
the income before the extraordinary item is $1,680,000.
the income before the extraordinary item is $1,920,000.
the extraordinary loss will be reported at $240,000.
the extraordinary loss would be reported on the income statement at
$800,000.
5Multiple Choice Question 65
Darius, Inc. has the following income statement (in millions):
DARIUS, INC.
Income Statement
For the Year Ended December 31, 2012

Net Sales $300
Cost of Goods Sold 120
Gross Profit 180