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Lopez Corporation has a tax rate of 20 percent and income before non-operating items of $1,392,000. It also has the following items (gross amounts). Unusual
Lopez Corporation has a tax rate of 20 percent and income before non-operating items of $1,392,000. It also has the following items (gross amounts).
Unusual loss $222,000
Loss from discontinued operations (net of taxes) $606,000
Gain on disposal of equipment $48,000
Change in accounting principle increasing prior year's income $318,000
What is the amount of income tax expense Lopez Corporation would report on its income statement?
Select one: a. $186,000 b. $243,600 c. $297,600 d. $278,400
Loper Corporation has a laxrate of 20 percent and income before non-operating items of $1.292.000 cho has the folowing items grous amounts Unusual loss 3222.000 Los from discontinued operations netolies) 5606,000 Goin on disposal of equipment $48.000 Change in accounting principle increasing prior year's income $310.000 What is the amount of income tax experte Lopez Corporation would report on its income statement select one: $185.000 D5243.600 c. 5297.600 d $278.400
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