The Willie Company has provided the following information: Operating expenses were $345,000;
Income from operations was $415,000;
Net sales were $1,100,000;
Interest expense was $71,000;
Loss from sale of investments was $87,000;
Income tax expense was $58,000.
What was Willie's income before taxes?
A)$344,000.
B)$199,000.
C)$257,000.
D)$286,000.

Question

Quizplus · Accepted Answer

Income before taxes = Net sales - Operating expenses - Interest expense - Loss from sale of investments= $1,100,000 - $345,000 - $71,000 - $87,000= $257,000

The Willie Company Has Provided the Following Information: Operating Expenses