10.00 points MC Qu. 29 LO 16-01, 16-04 For its first year of operations Tringali

Question

10.00 points MC Qu. 29 LO 16-01, 16-04 For its first year of operations Tringali Corporation's... For its first year of operations, Tringali Corporation's reconcillation of pretax accounting income to taxable income is as follows income 14.200 295,80 Permanent difference difference 20.4001 275,400 reciationn able income mngams tax rate is 33%. What shoukd Tringali report as its income tax expense for its first year of operations? ? $100615. O $97614 O $102.300 O $30882. Multiple Cholce Mc ou 2910 16-01. 16-04 For its nist year of operatio orporti TOSHIBA esc 2 3 4 5 ab

Explanation / Answer

Calculate income tax expense with permanent difference :

In permanent differnce no deffered tax assets and deferred tax liability recorded

so income tax expense is = 295800*33% = 97614

so answer is b) $97614

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