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Chase Corp. had the following infrequent transactions during 2014:A $375,000 gain from selling the only investment Chase has ever owned.A $525,000 gain on the sale of equipment.A $175,000 loss on the write-down of inventories.In its 2014 income statement, what amount should Chase report as total infrequent net gains that are not considered extraordinary?
Volcanic Mudflow
A rapid flow of volcanic ash mixed with water, often melting snow or glaciers, that moves down the slopes of a volcano, also known as a lahar.
Pyroclastic Column
A vertical column of volcanic ash and gas ejected into the atmosphere during an explosive volcanic eruption.
Fissure Eruption
A volcanic eruption that occurs when magma rises through and erupts onto the surface in a long fissure.
Lava Fountain
A fountain of molten lava propelled into the air by pressure and escaping gases.
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