I am an accounting student.

I have giving an example from an example company. These numbers have not been realized as this is not a real company

In the report the the federal income tax expense and assume is also the federal income tax payable is $ 54,837.14.

Here I have shared my question.

Using the trial balance and the pre tax net income from the corporation, how did they get 54,837.14 for the corporation's federal income tax expense.

I guess what I am asking is what combination of accounts and amounts from the report were used to come to this result? 54,837.14

Page: User ID: 1 ws52.061 TRIAL BALANCE SUMMARY FOR 2017 Waren A main General Ledger To: 12/31/2017 Sorted By: Segment1 Include: Posting, Zero Balance/No Trx Print Currency In: Functional (Z-US$) Description Cash Accounts Receivable Accounts Receivable from Employees Allowance for Doubtful Accounts Inventory Prepaid Expenses Marketable Securities Interest Receivable Fixed Assets Fixed Assets Clearing Account Accumulated Depreciation Notes Receivable Accounts Payable Wages and Salaries Payable Federal Income Taxes Withheld State Unemployment Taxes Payable Federal Unemployment Taxes Payable F.I.C.A. Taxes Payable Federal Income Taxes Payable Dividends Payable Interest Payable Notes Payable Unearned revenue Common Stock Paid-in Capital in Excess of Par Retained Earnings Dividends Declared Sales Sales Returns and Allowances Sales Discounts Taken Cost of Goods Sold Purchases Discounts Taken Freight-in Gain/Loss on Sale of Fixed Assets Gain/Loss on Sale of Marketable Securities Interest/Dividend Income Miscellaneous Revenue Rent Expense Advertising Expense Office Supplies Expense Depreciation Expense Wages and Salaries Expense Payroll Tax Expense Federal Income Tax Expense Interest Expense Bad Debt Expense Other Operating Expense Beginning Balance $11,025.19 $11,065.00 $0.00 $3,250.81 $101,681.00 $0.00 $0.00 $0.00 $320,665.00 $0.00 $81.559.50 $0.00 $11,279.35 $0.00 -$1,326.76 -$281.17 -$83.31 $1,593.30 -$29,797.00 $0.00 $0.00 $0.00 $0.00 -$225,000.00 $0.00 -$90,264.99 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $ $0.00 Debit $1,533,773.43 $1,235,305.62 $0.00 $4,400.00 $1,239.231.00 $0.00 $24,000.00 $0.00 $22,132.80 $0.00 $0.00 $0.00 $1,157,002.95 $0.00 $23,719.49 $898.27 $210.35 $25,898.74 $29,797.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $76.885.00 $61,106.00 $17.272.44 $1,137,451.96 $16,554.48 $24,506.44 $0.00 $0.00 $0.00 $0.00 $57,600.00 $22,275.00 $5,664.91 $35,023.64 $140,663.35 $11,633.93 $54,837.14 $106.85 $3,028.74 $34,410.76 Credit $1,451,504.34 $1,198,221.62 $0.00 $3.028.74 $1,148.945.00 $0.00 $0.00 $0.00 $0.00 $11,066.40 $35,023.64 $0.00 $1,153,675.61 $0.00 $23,832.78 $727.54 $145.71 $26,534.64 $54,837.14 $0.00 $106.85 $60,000.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,667.768.00 $0.00 $1,866.62 $111.072.00 $16,554.48 $24,506.44 $0.00 $0.00 $0.00 $825.00 $0.00 $0.00 $0.00 $0.00 $0.00 $22.74 $0.00 $0.00 $0.00 $5,125.00 Net Change $82,269.09 $37,084.00 $0.00 $1,371.26 $90,286.00 $0.00 $24,000.00 $0.00 $22,132.80 -$11,066.40 -$35,023.64 $0.00 $3,327.34 $0.00 -$113.29 $170.73 $64.64 -$635.90 -$25,040.14 $0.00 -$106.85 $60,000.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1,590,883.00 $61,106.00 $15,405.82 $1,026,379.96 $0.00 $0.00 $0.00 $0.00 $0.00 -$825.00 $57,600.00 $22,275.00 $5,664.91 $35,023.64 $140,663.35 $11,611.19 $54,837.14 $106.85 $3,028.74 $29,285.76 Ending Balance $93,294.28 $48,149.00 $0.00 $1,879.55 $191,967.00 $0.00 $24,000.00 $0.00 $342,797.80 $11,066.40 $116,583.14 $0.00 -$7.952.01 $0.00 -$1,440.05 -$110.44 -$18.67 $2,229.20 $54,837.14 $0.00 -$106.85 -$60,000.00 $0.00 -$225,000.00 $0.00 -$90,264.99 $0.00 -$1,590,883.00 $61,106.00 $15,405.82 $1,026,379.96 $0.00 $0.00 $0.00 $0.00 $0.00 -$825.00 $57,600.00 $22,275.00 $5,664.91 $35,023.64 $140,663.35 $11,611.19 $54,837.14 $106.85 $3,028.74 $29,285.76 Accounts Credit Beginning Balance $0.00 $ Debit $6,995,390.29 Net Change $0.00 Ending Balance $0.00 Grand Totals: 47 $6,995,390.29 FEDERAL INCOME TAXES Recall from the SUA that corporate income tax rates for 2017 are: 15% of the first $50,000 of income, plus 25% of the next $25,000, plus 34% of the next $25,000, plus 39% of the next $235,000. The remaining tax brackets are not listed because they aren't applicable to Waren's level of pre- tax income. General ledger account numbers for the journal entry are: #40700 (Federal income tax expense) and #20700 (Federal income taxes payable). Because there may be minor differences in depreciation expense and gain or loss on the sale of fixed assets between the SUA and Microsoft Dynamics GP, you must calculate federal income tax expense using pre-tax income as processed in Microsoft Dynamics GP. Either enter the correct amount on the online grading page of the Armond Dalton resources website or show your calculation on page 8-23 (consult your instructor). Before preparing the general journal entry, print a trial balance to the screen to determine pre-tax net income