The Cansela Baseball Bat Company reported income before taxes of $375,000. This amount included a $75,000 loss on discontinued operations. The amount reported as income from continuing operations, assuming a tax rate of 40%, is: a. $375,000 b. $270,000 c. $180,000 d. $225,000

b. $270,000

Explanation:

Income before Taxes                                          $375,000

Add: Loss from discontinuing operations          $75,000

Income from continuing operations before tax $450,000

Less: Tax 40% (450,000 x 40%)                         $180,000

Income from continuing operations                   $270,000

So, the correct option is b. $270,000.

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answerjointly by the fed and by the behavior of individuals who hold money and of banks in which money is held;