Question

In 2014, Dallas Company had sales of $600,000; cost of sales of $430,000; interest expense of $12,000; and a gain on the sale of a component of $52,000; For its income statement, Dallas uses the single-step format and the all-inclusive concept. What was Dallas's reported pretax income from continuing operations

Answer 1

$158,000

Step-by-step explanation:

Sales $600,000

Less: Cost of goods sold $430,000

Less: Interest expenses $12,000

Pretax income from $158,000

continuing operations