Mistys effective tax rate is 40 and there were 1000 shares, Ask an Expert

Accounting

Misty Company reported the following before-tax items during the current year:sales 600,operating expense 250,restructuring charges 20,and extraordinary loss 50.

Misty's effective tax rate is 40% and there were 1,000 shares of common stock outstanding.

What would be Misty's income before extraordinary item(s)?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9409607

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