The Willie Company has provided the following information: Operating expenses were $345,000;
Income from operations was $215,000;
Net sales were $1,100,000;
Interest expense was $71,000;
Discontinued operations loss was $87,000;
Income tax expense was $58,000.
What was Willie's income before taxes?
A) $144,000.
B) $57,000.
C)$215,000.
D)$812,000.

Question

Quizplus · Accepted Answer

Income before taxes is calculated as Income from operations ($215,000) minus Interest expense ($71,000), which equals $144,000.

The Willie Company Has Provided the Following Information: Operating Expenses