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Johnson Corp has a tax rate of 30 percent and income before non-operating items of $1,200,000. It also has the following items (gross amounts).
Johnson Corp has a tax rate of 30 percent and income before non-operating items of $1,200,000. It also has the following items (gross amounts). Unusual loss Dividend revenue $300,000 10,000 25,000 Interest expense Income increasing prior period adjustment 200,000 What is the amount of income tax expense Johnson would report on its income statement? $265,500 $520,500 $415,500 $355,500
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