Libby_7e_MBA_Companion_Solutions

state and local income tax expense note9

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Unformatted text preview: . . . State and local . . Income tax expense. (Note.9). ....... .. .. .. .. . . . . . . .. .. .. ....... .. .. .. .. . . . . . .. .. .. .. .. . . Non-U.S. . . . . . . . 89,850 12 (22,829) (2,077) 126,243 (1,228) (31,196) (735) Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22,517 $ 2007 $1,356,039 776,288 $ 567,811 $40,490 22,576 579,751 430,350 2,459 3,685 385,769 24,742 22,493 — 18,568 5,987 43,603 5,157 66,668 199,139 8,888 (2,726) 208,027 (222) (63,575) (145) 67,021 $ (12,407) $ (3,093) 95,047 144,452 312 Income per share: Earnings tax expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $22,829 $ 31,196 $63,575 ANSWER Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.98 $ 2.75 $ 4.00 Diluted . . . is. a .$89,850 . =. 25.4%,. which expected .statutory federal income tax effective tax $22,829 / reconciliation. .of. the. normal....
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This homework help was uploaded on 03/27/2014 for the course ACCOUNTING 151 taught by Professor Chinn during the Spring '12 term at Lehigh University .

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