Question
Last year Snap-On Tools had a marginal tax rate of 35% and an effective tax rate of 32.9%, It reported taxes payable of $119.1 million
Last year Snap-On Tools had a marginal tax rate of 35% and an effective tax rate of 32.9%, It reported taxes payable of $119.1 million and earnings before tax of $357.8 million. What did Snap-On report as tax expense (on its income statement) for the year?
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Essentials Of Accounting For Governmental And Not-for-Profit Organizations
Authors: Paul A Copley
11th Edition
0078025451, 9780078025457
