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Eight Independent situations are described below. Each Involves future deductible amounts and/or future taxable amounts: N ($ in millions) Temporary Differences Reported First on:
Eight Independent situations are described below. Each Involves future deductible amounts and/or future taxable amounts: N ($ in millions) Temporary Differences Reported First on: The Income Statement Revenue $21 Expense $21 The Tax Return Revenue Expense $21 $21 16 21 21 16 16 21 16 21 6 == 11 11 Required: For each situation, determine taxable Income, assuming pretax accounting Income Is $110 million. (Enter your answers in millions (ie., 10,000,000 should be entered as 10).) Situations Taxable Income 1 2 3 4 5 8 7 8
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