Greene Corporation had the information listed below available in preparing an income statement for the year ended December 31, 2014. All amounts are before income taxes. Assume a 30% income tax rate for all items Prepare a partial income statement, beginn

Greene Corporation had the information listed below available in preparing an income statement for the year ended December 31, 2014. All amounts are before income taxes. Assume a 30% income tax rate for all items Prepare a partial income statement, beginn

Greene Corporation had the information listed
below available in preparing an income statement for the year ended December
31, 2014. All amounts are before income taxes. Assume a 30% income tax rate for
all items.

Sales $
800,000

Expropriation
of property by a foreign government (loss) $ (120,000)

Income
from operation of discontinued cement division $
100,000

Loss
from disposal of cement division $ (90,000)

Operating
expenses $
175,000

Gain
on sale of equipment $ 60,000

Cost
of goods sold $
420,000


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