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Alvis Corporation reportspretax accounting incomeof $300,000, but due to a single temporary difference,taxable incomeis only $175,000. At the beginning of the year, no temporary differences

Alvis Corporation reportspretax accounting incomeof $300,000, but due to a single temporary difference,taxable incomeis only $175,000. At the beginning of the year, no temporary differences existed.

1.Assume a tax rate of 30%, what will be Alviss net income?

2. What will Alvis report in the balance sheet pertaining to income taxes

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