Carpino Corporation Has an Extraordinary Loss of $200,000, an Unusual

Short Answer

Carpino Corporation has an extraordinary loss of $200,000, an unusual gain of $140,000, and a tax rate of 40%.At what amount should Carpino report each item? $\begin{array}{cc}&\text { Extraordinary loss } & \text { Unusual gain } \\\hline a.& \$(200,000) & \$ 140,000 \\b.&(200,000) & 84,000 \\c.&(120,000) & 140,000 \\d.&(120,000) & 84,000\end{array}$