Grouper Inc. reports accounting income of $102,000 for 2020, its first year of operations. The following items cause taxable income to be different than income reported on the financial statements. 1. Capital cost allowance (on the tax return) is greater than depreciation on the income statement by $17,100. 2. 3. 4. Rent revenue reported on the tax return is $25,650 higher than rent revenue reported on the income statement. Non-deductible fines appear as an expense of $15,800 on the income statement. Grouper's tax rate is 30% for all years and the company expects to report taxable income in all future years. Grouper reports under IFRS. Your answer is correct. Calculate taxable income and income tax payable for 2020. Taxable income for 2020 Income tax payable for 2020 eTextbook and Media +A +A 126350 37905