Use the Following Information for Questions
Hogan Corp Other Information:
Hogan's Income Tax Rate Is 30

question 43

Multiple Choice

Use the following information for questions
Hogan Corp.'s trial balance of income statement accounts for the year ended December 31, 2007 included the following: $\begin{array}{lr}&\text { Debit } & \text { Credit }\\\text { Sales }&&\$140,000\\\text { Cost of sales } & \$ 50,000 \\\text { Administrative expenses } & 25,000 \\\text { Loss on sale of equipment } & 9,000 \\\text { Commissions to salespersons } & 8,000\\\text { Interest revenue }&&5,000\\\text { Freight-out } & 3,000 \\\text { Loss due to earthquake damage } & 12,000 \\\text { Bad debt expense } & 3,000\\\text { Totals }&\$ 110.000 &\$ 145.000\\\end{array}$ Other information:
Hogan's income tax rate is 30%.Finished goods inventory: $\begin{array}{lr}\text { January } 1,2007 & \$ 80,000 \\\text { December } 31,2007 & 70,000\end{array}$ On Hogan's multiple-step income statement for 2007,
-Income before extraordinary item is

• A)$64,000.
• B)$47,000.
• C)$32,900.
• D)$24,500.

---

Definitions:

You-attitude

A communication approach that focuses on the audience's needs and perspectives, emphasizing the 'you' over 'I' or 'we'.

Offering Sympathy

The act of expressing understanding, compassion, or sorrow for someone else's suffering or misfortune.

Impersonal Constructions

Sentences or phrases that do not specify the person acting, focusing instead on the action or it being acted upon.

Critical Information

Vital data or facts necessary for understanding a situation or for making decisions.