Dan Nicholson Corporation Has an Extraordinary Loss of $50,000, an Unusual

Short Answer

Dan Nicholson Corporation has an extraordinary loss of $50,000, an unusual gain of $35,000, and a tax rate of 40%.At what amount should Dan Nicholson report each item? $\begin{array}{cc}&\text { Extraordinary loss } & \text { Unusual gain } \\\hline a.&\$(50,000) & \$ 35,000 \\b.&(50,000) & 21,000 \\c.&(30,000) & 35,000 \\d.&(30,000) & 21,000\end{array}$