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Assume the YR 0 1 tax return for Tesla Inc. correctly showed a Total Tax of $ 3 0 4 , Tax Credits applied of
Assume the YR tax return for Tesla Inc. correctly showed a Total Tax of $ Tax Credits applied of $and Tax Penalties Assessed of $ Also assume the correct general ledger balances were as follows:
Account Balance at January YR Balance at December YR
Deferred Tax Asset dr
Deferred Tax Liability cr
Deferred Tax Credit cr
Income Tax Payable cr
Based solely on this information, the total income tax expense to be reported on the companys income statement for the year ended December YR is:
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