4. Presented below is information related to Sohar Inc atDecember 31, 2020.Revenues|$1,200,000Income from continued operation150,000Comprehensive income180,000Net income135,000Income from operation330,000SellingExpenses&Administrative750,000Income before income tax300,000Compute the following: (a) Other income & expenses,(b) Financing Cost, (c) Income Tax, (d) Discontinuedoperation, (e) Other Comprehensive Income.

1.Discontinued operations = Income From operations - Income from Continuing operations. 2. Financing…

Answered: Compute the following: (a) Other income…

Business

Accounting

Compute the following: (a) Other income & expenses, (b) Financing Cost, (c) Income Tax, (d) Discontinued

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

4. Presented below is information related to Sohar Inc at
December 31, 2020.
Revenues
|$1,200,000
Income from continued operation
150,000
Comprehensive income
180,000
Net income
135,000
Income from operation
330,000
Selling
Expenses
&
Administrative
750,000
Income before income tax
300,000
Compute the following: (a) Other income & expenses,
(b) Financing Cost, (c) Income Tax, (d) Discontinued
operation, (e) Other Comprehensive Income.

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