Cal's Cookies reported 2013 before-tax income before extraordinary items of $152,000 and a before-tax extraordinary loss of $32,000. All tax items are subject to a 30% tax rate. In its 2013 income statement, Cal's reported the following amounts as separate line items for net income and income tax expense:

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The Answer of Cal's Cookies reported 2013 before-tax income before extraordinary items of $152,000 and a before-tax extraordinary loss of $32,000. All tax items are subject to a 30% tax rate. In its 2013 income statement, Cal's reported the following amounts as separate line items for net income and income tax expense:

Cal's Cookies Reported 2013 Before-Tax Income Before Extraordinary Items of $152,000