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ABC company reported the following information: Financial Tax StatementsReturn 100,000 100,000 20,000 35,000 Income before depreciation and income tax Depreciation Expense The tax rate is
ABC company reported the following information: Financial Tax StatementsReturn 100,000 100,000 20,000 35,000 Income before depreciation and income tax Depreciation Expense The tax rate is 35%. Calculate the income tax expense to be reported on the income statement (and insert answer into first answer box below) Calculate the income tax expense to be reported on the income tax return (and insert answer into second answer box below) Calculate the deferred tax asset/liability. If a deferred tax asset enter answer as a positive amount, if a deferred tax liability enter answer as a negative amount. Enter answer into the third box below
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