Guessco Reported the Following Amounts on Its Income Statement: Total

question 98

Multiple Choice

Guessco reported the following amounts on its income statement: total revenues,$31,500; interest expense,$300; net income,$1,600; income tax expense,$900; and operating income,$2,800.What was the amount of Guessco's income before income tax expense?

• A)$1,300.
• B)$2,500.
• C)$29,000.
• D)$29,900.

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Definitions:

Science Anxiety

The feeling of stress or apprehension experienced by some individuals when engaging with scientific subjects or methodology.

Reasoning

The process of thinking about something in a logical way in order to form a conclusion or judgment.

Deductive Reasoning

Drawing conclusions based on, going from the general to the specific.

Inductive Reasoning

Generalizing from specific concepts to broad principles.