Practice prompt · Q:statement-presentation-comprehensive-income-and-disclosure/practice-net-income

Net income

Combine continuing and discontinued results while excluding OCI.

Updated Sep 13, 2026 Review due Dec 13, 2026

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A company reports $227 thousand of income before income taxes and $57 thousand of income tax expense on continuing operations. It also reports a $24 thousand discontinued-operation loss after tax and an $11 thousand OCI gain after tax. What is net income?

Choose the best answer. a $146 thousand b $157 thousand c $170 thousand d $135 thousand

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Answer: a

Net income is $146 thousand ($227 − $57 − $24). The $11 thousand OCI gain is excluded.