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

question 108

Multiple Choice

Given the following amounts from an income statement: $$\begin{array} { | l | l | } \hline \text { Sales (net of returns and allowances of } \$ 10 \text { ) } & \$ 690 \\\hline \text { Distribution expense } & 32 \\\hline \text { Cost of goods olds } & 264 \\\hline \text { Income tax on operations } & 56 \\\hline \text { Interest revenue } & 2 \\\hline \text { Loss trom Dis continued Operations, net of tax } & 10 \\\hline \text { Interest expense } & 8 \\\hline \text { General and administrative expenses } & 92 \\\hline \text { Loss of sale of investments } & 6 \\\hline\end{array}$$ The amount shown on a multiple-step format income statement for operating income from continuing operations would be:

• A) $232.
• B) $246.
• C) $290.
• D) $302.

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Definitions:

Sea Turtles

Marine reptiles known for their long lives, migration across oceans, and endangered status due to human activities.

Disadvantages

The negative or less favorable aspects of something that tend to hinder or lower its effectiveness, appeal, or usability.

Mangrove Forests

Coastal ecosystems characterized by mangrove trees, which are uniquely adapted to thrive in salty and brackish waters.