Misty Company reported the following before-tax items
  during the current year:
                                      Sales    $        600                       Operating expenses    $        250                       Restructuring charges    $          20                       Extraordinary loss    $        (50)                                               Misty's
  effective tax rate is 40% and there were 1,000 shares of common stock
  outstanding.                               (a)   What would be Misty's income before
  extraordinary item(s)?               (b)   What would be Misty's net income for
  the current year?  


AFTER PAYMENT ENTER PASSWORD : "SHIV" TO UNLOCK THE SOLUTION

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