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Multiple Choice Question 66 Sunland Corporation prepared the following reconciliation for its first year of operations: Pretax financial income for 2018 Tax exempt interest Originating
Multiple Choice Question 66 Sunland Corporation prepared the following reconciliation for its first year of operations: Pretax financial income for 2018 Tax exempt interest Originating temporary difference Taxable income $2100000 (156000) (362000) $1582000 The temporary difference will reverse evenly over the next 2 years at an enacted tax rate of 40%. The enacted tax rate for 2018 is 28%. What amount should be reported in its 2018 income statement as the deferred portion of income tax expense? O $840000 credit O $144800 credit O$632800 debit O $588000 debit
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