Question - James, Inc. incurred the following infrequent losses during 2012:?A $140,000 write-down of equipment leased to others.?A $80,000 adjustment of accruals on long-term contracts.? A $120,000 write-off of obsolete inventory.? In its 2012 income statement, what amount should James report as total infrequent losses that are not considered extraordinary?
A) $340,000.
B) $220,000.
C) $260,000.
D) $200,000.