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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 Temporary
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 Temporary difference-depreciation Taxable income $380,000 (15,400) 364,600 (19,200) $345,400 Tringall's tax rate is 25%. Assume that no estimated taxes have been paid. What should Tringali report as its income tax expense for its first year of operations? Multiple Choice $4,800. $95.000 $86,350
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