Answers:

A. $4,800

B. $92,500

C. $88,850

D. $84,050

For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income Permanent difference $370,000 (14,600) 355,400 (19,200) $336,200 Temporary difference-depreciation Taxable income Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. What should Tringali report as income tax payable for its first year of operations