The trial balance of Lakewood Inc. included the following accounts as of December 31, 2021:
Sales revenue
Interest revenue
Gain on sale of investments
Cost of goods sold
Selling expense
Loss on inventory write-down
Interest expense
General and administrative expense
Debits
Credits
$ 1,800,000
$ 80,000
$ 50,000
$ 1,100,000
$ 220,000
$ 30,000
$ 40,000
$ 200,000
Income tax expense has not yet been accrued. The effective tax rate is 25%. Based on the information above, what is the
Answers A - D
A $150,000
B $255,000
C $250,000
D $345,000