Can someone do this problem without the extraordinary items approach. The FASB eliminated the approach...
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Can someone do this problem without the extraordinary items approach. The FASB eliminated the approach in 2015. So please do this with the other gains losses approach. Thank you. 
P4-3 (Lo3,4,5) EXCEL GROUPWORK (Various Income-Related Items) Maher Inc. reported income from continuing operations before taxes during 2017 of $790,000. Additional transactions occurring in 2017 but not considered in the $790,000 are as follows 1. The corporation experienced an uninsured flood loss in the amount of $90,000 during the year 2. At the beginning of 2015, the corporation purchased a machine for $54,000 (salvage value of $9,000) that had a useful life of 6 years. The bookkeeper used straight-line depreciation for 2015, 2016, and 2017, but failed to deduct the salvage value in computing the depreciation base
Can someone do this problem without the extraordinary items approach. The FASB eliminated the approach in 2015. So please do this with the other gains losses approach. Thank you.
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