Q8
Single choice
Adam Corp. had the following infrequent transactions during 1989:
- A $190,000 gain on reacquisition and retirement of bonds. This material event is also considered unusual
for Adam Corp.
- A $260,000 gain on the disposal of a component of a business. Adam continues similar operations at
another location.
- A $90,000 loss on the abandonment of equipment.
In its 1989 income statement, what amount should Adam report as total infrequent net gains that are not considered extraordinary?