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%
What would be Misty's income before extraordinary items?
a. $198
b. $210
c. $330
d. $360
What would be Misty's net income for the current year?
a. $148
b. $168
c. $112
d. None of the amounts given is correct
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