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CES Question 3 Crane Corp. prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2021:
CES Question 3 Crane Corp. prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2021: $2580000 228000 Book income before income taxes Add temporary difference Construction contract revenue which will reverse in 2022 Deduct temporary difference Depreciation expense which will reverse in equal amounts in each of the next four years Taxable income (931200) $1876800 Crane's effective income tax rate is 25% for 2021. What amount should Crane report in its 2021 income statement as the current provision for income taxes? $469200 $702000 $645000 $57000 Click if you would like to Show Work for this question: Open Show Work
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