I just want to know how do you calculate the income tax expense?

P5-1 (similar to) Question Help Yellow Lizard Products, Inc provided the following information from its current-year trial balance. (Click the icon to view the trial balance.) Requirements a. Prepare a single-stop income statement for the year ended December 31. The tax rate is 30% b. Prepare a multiple-step income statement for the year ended December 31 Requirementa. Prepare a single-step Income statement for the year ended December 31. The tax rate is 30% Preparo Yellow Lizard's singlo-step income statement for the current year, one section at a time (Use parentheses or a minus sign to enter a loss from din continued operations.) 850000 28000 Expenses and Losses Cost of Goods Sold Selling Expenses Office Supplies Expense Sales Salaries Expense Advertising Expense Office Salaries Expense Accounting and Legal Fees-General Systems Consulting Fees-General Depreciation Expense-General 133000 61000) 72000 96000 11000 56000 86000 72000 96000 11000 56000 86000 Advertising Expense Office Salaries Expense Accounting and Legal Fees--General Systems Consulting Fees--General Depreciation Expense-General Amortization Expense-General Loss on Asset Impairment Interest Expense Income Tax Expense Total Expenses and Losses 44000 24000 27000 Yellow Lizard Products, inc. Trial Balance (Partial) For the Year Ended December 31 Debit Account Common Stock (no par)-Beginning Balance Retained Earnings-Beginning Balance Accumulated Other Comprehensive Income-Beginning Balance Dividends Credit $ 1,575,000 4,200,000 111,000 92,000 Sales Interest Income Dividend Income Gain on Disposal of Plant Assets Unrealized Gain on Trading Securities Unrealized Gain on Available-for-Sale Bonds 2,200,000 36,000 28,000 116.000 88,000 55,000 Unrealized Gain on Available for Sale Bonds 55,000 850,000 28,000 Cost of Goods Sold Selling Expenses Office Supplies Expense Sales Salaries Expense Advertising Expense Office Salaries Expense Accounting and Legal Fees-General Systems Consulting Fees-General Depreciation Expense-General Amortization Expense-General Interest Expense Loss on Discontinued Operations-Before Tax Loss on Asset Impairment 133,000 61,000 72,000 96,000 11,000 56,000 86,000 44,000 27,000 94,000 24,000