The Following Data Include All the Elements from Cambridge Company's

question 3

Multiple Choice

The following data include all the elements from Cambridge Company's income statement: $$\begin{array} { l r } \text { Administrative Expense } & \$ 873 \\\text { Cost of Goods Sold } & 3,615 \\\text { Gain on Sale of Securities } & 623 \\\text { Income Tax Expense } & 1,234 \\\text { Loss on Discontinued Operations } & 1,229 \\\text { Loss on Disposal of Equipment } & 237 \\\text { Revenue } & 8,771 \\\text { Selling Expense } & 1,425\end{array}$$ What is the amount of income from continuing operations for Cambridge Company?

• A) $3,244
• B) $2,621
• C) $2,010
• D) $3,481

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Definitions:

Nutrient Absorption

The process by which substances such as vitamins and minerals from food are taken up into the bloodstream from the digestive tract.

Small Intestine

The part of the gastrointestinal tract between the stomach and large intestine, where most of the digestion and absorption of food takes place.

Esophageal Hiatus

Hole in the diaphragm through which the esophagus passes.

Diaphragm

A dome-shaped muscular partition separating the thorax from the abdomen in mammals, playing a major role in breathing by contracting and expanding the lungs.