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  3. the following inc ome statement items appeared o

The following inc ome statement items appeared on the adjusted trial balance of...

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Accounting

The following inc
ome statement items appeared on the adjusted trial balance of Schembri Manufacturing Corporation for the year ended December 31,2024($ in thousands): sales revenue, $17,300; cost of goods sold, $7,200; selling expenses, $1,400; general and administrative expenses, $900; interest revenue, $150; interest expense, $250. Income taxes have not yet been recorded. The companys income tax rate is 25% on all items of income or loss. These revenue and expense items appear in the companys income statement every year. The companys controller, however, has asked for your help in determining the appropriate treatment of the following nonrecurring transactions that also occurred during 2024($ in thousands). All transactions are material in amount.

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