Determine the amount would appear for net income

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Reference no: EM132214011

Question: The adjusted trial balance of Pacific Scientific Corporation on December 31, 2017, the end of the company's fiscal year, contained the following income statement items ($ in millions): sales revenue, $2284; cost of goods sold, $1328; selling expenses, $160; general and administrative expenses, $299; interest expense, $60; and gain on sale of investments, $68. Income tax expense has not yet been accrued. The income tax rate is 40%. Determine the amount would appear in a multi-step income statement for net income (loss). Answer in dollars and cents ($ 0.00).

Reference no: EM132214011

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