Given the Following Amounts from an Income Statement The Amount Shown on a Single-Step Format Income Statement for |

question 93

Multiple Choice

Given the following amounts from an income statement: $$\begin{array} { | l | l | } \hline \text { Sales (net of returns and allowances of } \$ 10 ) & \$ 336 \\\hline \text { Distribution expenses } & 76 \\\hline \text { Rent revenue } & 2 \\\hline \text { General and administrative expenses } & 36 \\\hline \text { interest revenue } & 1 \\\hline \text { Cost of goods sold } & 152 \\\hline \text { Interest expense } & 4 \\\hline \text { Loss on sale of irw estment } & 3 \\\hline \text { Income tax expense on operations } & 27 \\\hline \text { Exceptional item - Loss due to earthquake, pre-tax } & 5 \\\hline\end{array}$$ The amount shown on a single-step format income statement for income from continuing operations items would be:

• A) $46.
• B) $41.
• C) $40.
• D) $35.