Jacobsen Corporation prepares its financial statement applying International Financial Reporting Standards. During its 2018 fiscal year, the company reported before-tax income of $627,000. This amount does not include the following two items, both of which are considered to be material in amount:Unusual and infrequent gain: $207,000 Loss from discontinued operations: (307,000)The company's income tax rate is 35%. In its 2018 income statement, Jacobsen would report income from continuing operations of:a. $407,550b. $542,100c. $342,550d. $627,000

On december 31, 2016, the decarreau, andrew, and bui partnership had the following fiscal year-end balance sheet: cash $10,000accounts receivable $20,000inventory $25,000plant assets - net $30,000loan to decarreau $18,000total assets $103,000accounts payable $14,000loan from bui $15,000decarreaua, capital (20%) $32,000andrew, capital (10%) $23,000bui, capital (70%) $19,000total liab./equity $103,000the percentages shown are the residual profit and loss sharing ratios. the partners dissolved the partnership on january 1, 2017, and began the liquidation process. during july the following events occurred: * receivables of $18,000 were collected.* all inventory was sold for $15,000.*all available cash was distributed on january 31, except for$8,000 that was set aside for contingent expenses.the book value of the partnership equity (i.e., total equity of the partners) on december 31, 2016 isa. $58,000b. $71,000c. $66,000d. $81,000