Cool Stools Corporation has income before taxes of $400,000 and a pretax extraordinary loss of $100,000. If the income tax rate is 25%, the income statement should show income before irregular items and extraordinary items, respectively, of
A. $325,000 and $100,000
B. $325,000 and $75,000
C. $300,000 and $100,000
D. $300,000 and $75,000
Ans: C. $300,000 and $100,000
Business
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