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All of the accounts of the Grass is Greener Company have been adjusted as of December 31, 2022, with the exception of income taxes incurred
All of the accounts of the Grass is Greener Company have been adjusted as of December 31, 2022, with the exception of income taxes incurred but not yet recorded. Those account balances appear below. All have normal balances. The estimated income tax rate for the company is 40%. Cash Accounts Receivable Interest Receivable Prepaid Insurance Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Deferred Revenue Income Tax Payable Salaries and Wages Payable Notes Payable (long-term) Long-Term Debt Common Stock Retained Earnings Ne Dividends Service Revenue . Interest Revenue e. Supplies Expense Repairs and Maintenance Expense Depreciation Expense Rent Expense Income Tax Expense $ 369, 340 789,950 5,200 7,700 13,000 225,900 690,500 143,300 299,700 92,600 0 28,800 374,040 247,600 1600 221,800 23,600 650.00 958,000 354,200 262,300 61,350 32,300 Unknown 132,100 Required: a. Calculate the income before income tax. b. Calculate the income tax expense. c. Calculate the net income. Income Before Income Tax Income Tax Expense Net Income
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