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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 $310,000
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 $310,000 (15,900) 294,100 (19,400) $274,700 Temporary difference-depreciation Taxable income Tringali'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 O $77,500 $73,525. O $68,675. $4,850
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