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Honeysuckle Inc For 2020, on a Multiple-Step Income Statement, Honeysuckle Would Report

Question 57

Multiple Choice

Honeysuckle Inc. reported the following information for 2020:  Sales revenue............................................................ $780,000Cost of goods sold....................................................... 525,000 Operating expenses.................................................... 82,500 Gain on the sale of equipment.................................... 105,000Cash dividends received on investment securities............ 4,500\begin{array}{llcc} \text { Sales revenue............................................................ } & \$780,000 \\ \text {Cost of goods sold....................................................... } &525,000\\ \text { Operating expenses.................................................... } &82,500\\ \text { Gain on the sale of equipment.................................... } &105,000\\ \text {Cash dividends received on investment securities............ } &4,500\\\end{array}
For 2020, on a multiple-step income statement, Honeysuckle would report other income of


A) $277,500.
B) $109,500.
C) $105,000.
D) $4,500.

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