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  1. business
  2. accounting
  3. in 2007, the damon company had sales of $600,000;

In 2007, the Damon Company had sales of $600,000; cost of sales of $430,000; interest...

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Accounting

In 2007, the Damon Company had sales of $600,000; cost of sales of $430,000; interest expense of $12,000; a gain on the sale of a component of $12,000; and an extraordinary loss of $20,000. For its income statement, Damon uses the single-step format and the all-inclusive concept. What was Damon's reported pretax income from continuing operations?

a. $150,000

b. $170,000

c. $158,000

d. $138,000

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