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8 Farnworth Corp. pays Income tax at an average rate of 40 percent. This year its revenue is $134,000 and its expenses are $87000. The
8 Farnworth Corp. pays Income tax at an average rate of 40 percent. This year its revenue is $134,000 and its expenses are $87000. The adjusting entry to record the Income tax expense will: O decrease net income by $47000 Increase stockholders' equity by $18.800. O decrease stockholders' equity by $18800 O decrease liabilities by $18.800
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