Use the Following Information for Questions

question 59

Multiple Choice

Use the following information for questions.
Sesame Corp.'s adjusted trial balance at December 31, 2017 included the following: Sesame uses the perpetual system, and their income tax rate is 30%.
-On Sesame's multiple-step income statement for 2017, net income is

• A)$9,800.
• B)$15,000.
• C)$16,800.
• D)$24,000.

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Definitions:

Glutaric Acid

A dicarboxylic acid with the formula C5H8O4, characterized by five carbon atoms and two carboxylic acid groups, used in the manufacture of polymers and polyesters.

Benzoic Acid

A simple aromatic carboxylic acid, used in the manufacture of various cosmetics, dyes, plastics, and as a preservative.

Potassium Hydroxide

A strong inorganic base used in various chemical reactions, including neutralization and saponification processes.

Sodium Bicarbonate

A salt composed of sodium and bicarbonate ions, commonly known as baking soda, used widely in baking, cleaning, and as an antacid.