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Misty Company reported the following before-tax items during the current year: Sales revenue $ 1,200 Selling and administrative expenses 620 Restructuring charges 20 Loss on discontinued operations 40 Misty's effective tax rate is 25%. What is Misty's net income for the current year? Multiple Choice $460. $390. $420. $380.

Respuesta :

Answer:

 $420

Explanation:

The computation of the net income for the current year is shown below:

Sales revenue                                              $1,200

Less: Selling and administrative expense  -$620

Less: Restructuring charges                        -$20

Less: Income tax expense at 25%               - $140

Net income                                                    $420

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