The following information pertains to maynard corporation’s income statement for the 12 months just ended. the company has an effective income tax rate of 40%.discontinued operations $70,000extraordinary loss due to earthquake 90,000income from continuing operations (net of tax) 72,000cumulative effect of change in accounting principle 60,000maynard’s net income for the year is: a. $8,000b. $24,000c. $12,000d. $36,000

(B) $24000

Explanation:

Calculate Maynard income for the year

Income from continued operations

(net of tax) $72000

Discontinued operation - $70,000 -> 0.40 = $42,000

Extraordinary loss due to earthquake - $90,000 -> 0.40 = $54,000

Net income = $54,000 + $42,000 - $72,000 = $24,000

account balance book uk

answer: b. false

the staff is a set of five horizontal lines and four spaces which represent a different musical pitch. the lines and the spaces are numbered from bottom to top, the bottom line is the first line and the fifth line is the line on the top. the notes on the top of the staff (fifth line) have a higher pitch than a note at the bottom of the staff.