Gerogi Company had the following balances for income from continuing operations and pretax gains and losses on December 31:
Income from continuing operations
222,000
Loss on discontinued operations
(76,000)
Unrealized gain on available-for-sale security
27,000
Loss on impairment of Goodwill
(140,000)
Foreign currency translation loss
(69,000)
The company's effective tax rate is 40%. What amount should Gerogi Company report as comprehensive income for the year ended December 31?
A) $95,200
B) $104,000
C) $151,200
D) $196,800
Answer: C
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Beginning Merchandise Inventory 15 units at $92 March 10 Sold 12 units June 10 Purchased 45 units at $98 October 30 Sold 39 units What is the amount of the company's Merchandise Inventory, as disclosed in the December 31, 2017 balance sheet as per the periodic FIFO inventory costing method? A) $552 B) $588 C) $9,016 D) $882
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Indicate whether the statement is true or false