Company reported net income of 500000 in 2011 during 2011, Ask an Expert

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Company reported net income of $500,000 in 2011. During 2011 Company reported a loss of $50,000 from a peripheral activity. The loss was included as part of income from continuing operations. Assuming that the loss is a one-time event and that Company has an effective tax rate of 35% calculate Company's adjusted net income. Show all of your calculations for credit.Also why analysts might make an adjustment of this type.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9984218

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