Question 25 1 pts At Crane Company, events and transactions during 2020 included the following....
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Question 25 1 pts At Crane Company, events and transactions during 2020 included the following. The tax rate for all items is 40%. (1) Depreciation for 2018 was found to be understated by $152,000. (2) A strike by the employees of a supplier resulted in a loss of $125,000. (3) The inventory at December 31, 2018 was overstated by $200,300. The effect of these events and transactions on 2020 income from continuing operations net of tax would be ($75,000) ($286,380). ($166.200). ($211,380)
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