Use the following information to answer questions 5-7: ABC, Inc. provided the fo
ID: 2552409 • Letter: U
Question
Use the following information to answer questions 5-7: ABC, Inc. provided the following partial-trial balance for the current year. ABC. Inc. is subject to a 40% income tax rate ABC, Indc Partial Trial Balance (Selected Accounts) For the Year Ended December 31, 2015 Debit $2,460 Accounts Dividends Sales Income from Discontinued Operations Interest Income Gain on Disposal of Plant Assets Unrealized Gain on Available-for-sale Marketable Securities Cost of Goods Sold Office Supplies Expense Sales Salaries Expense Selling Expenses Accounting and Legal Fees-General Expense Advertising Expense Office Salaries Expense Depreciation Expense- General Expense Interest Expense Loss on Asset Impairment Credit $225,400 3,830 1,450 14,810 1,200 90,100 4,500 8,390 11,210 2,400 6,660 21,480 18,600 2,570 1,840Explanation / Answer
5
6
None of The Above
7
Answer is $225400
Sales 225400 Less Cost of Goods sold 90100 Gross Profit 135300