Logan Corp

Multiple Choice

Logan Corp.'s trial balance of income statement accounts for the year ended December 31, 2014 included the following: Other information:Logan's income tax rate is 30%. Finished goods inventory:January 1, 2014 $160,000December 31, 2014 140,000On Logan's multiple-step income statement for 2014,Income before extraordinary item is

A) $88,000.
B) $54,000.
C) $37,800.
D) $21,000.