6. For the year 2021, Air Wright Inc. reports pretax financial income of $900,000. Included in the $900,000 are fines for $10,000 and interest on tax exempt bonds for $20,000. Accounting depreciation is $30,000 and depreciation for tax purposes is $25,000. Assuming a tax rate of 20%, what is Air Wright's Income taxes payable for the year 2021. a. $181,000 b. $179,000 C. $177,000 d. $173,000 7. Using the information from Question 6, under GAAP, what is Air Wright's Income Tax Expense for 2021. a. $180,000 b. $183,000 c. $178,000 d. Cannot be determined As a component of Pension Expense, Service Cost can best be described as: a. The increase in pension benefits payable to employees for one additional year of service based on current salaries b. The increase in pension benefits payable to employees for one additional year of service based on future salaries The increase in pension benefits payable to employees for all years of service, including the years of service prior to the adoption of the pension plan d. The present value of all Projected Benefits and Prior Services Costs discounted by an appropriate rate of return. C. 9. Presented below is pension information related to United Manufacturing for the year 2021: Actual/Expected Return on Plan Assets Interest on Vested Benefits Service Cost Interest on the Projected Benefit Obligation Amortization of Prior Service Cost $8,000 5,000 10.000 7.000 6,000 What amount should United record as Pension Expense for 2021? $20,000 b. $31,000 C. $15,000 d $23,000 10. Fortune Enterprises reports a $400,000 operating loss in 2021. The company has provided you with the following data for its previous tax years: Year Taxable income or (Loss) $10,000 Tax Rate Taxes Paid 2018 40% $4,000 2019 20% $90,000 $500,000 2020 $18,000 $100,000 20% Determine the amount of loss carry back for 2021. a. $100,000 b. $80,000 C. $160,000 d. $0