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Unformatted text preview: $10,500.00 Income Tax Payable Deferred Tax Asset d) Income before taxes $890,000.00 Current Income Tax Expense $320,000.00 Deferred Income Tax Expense $28,000.00 $348,000.00 Net Income $542,000.00 .40x=$320,000 x=320,000/.40 x= $800,000 $320,000.00 $42,000.00 $343,000.00 $7,000.00...
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This note was uploaded on 05/01/2011 for the course FINANCE 516 taught by Professor Anderson during the Spring '11 term at Keller Graduate School of Management.
- Spring '11