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Cal's Cookies reported 2011 before-tax income before extraordinary items of $152,000 and a beforetax
extraordinary loss of $32,000. All tax items are subject to a 30% tax rate. In its 2011 income statement,
Cal's would report the following amounts as separate line items for net income and income tax expense:
A. $120,000 and $36,000.
B. $84,000 and $36,000.
C. $120,000 and $45,600.
D. $84,000 and $45,600.
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