Picking pockets is larceny

Dole Company, with an applicable income tax rate of 30%, reported net income of $210,000. Included in income for the period was an extraordinary loss from flood damage of $30,000 before deducting the related tax effect. The company's income before income taxes and extraordinary items was

a. $240,000. b. $300,000. c. $330,000. d. $231,000.

The normal sequence in performing top down analysis is

A) competition, consumer demand, threat of substitute products. B) market conditions, risk, company fundamentals. C) economy, industry, company. D) profitability, efficiency, liquidity.